ROCHESTER, N.Y., Nov. 05, 2026 (GLOBE NEWSWIRE) -- Phoenix Tailings’ Freedom Project will benefit from an estimated $54.2 million in state, local and infrastructure incentives to advance its rare earth separation facility at Eastman Business Park. The award underscores New York’s commitment to the project and bipartisan support for expanding U.S. production of critical materials. Leveraging existing industrial buildings and chemical-processing infrastructure from Kodak’s manufacturing legacy, Phoenix can focus its capital and team on installing equipment, bringing production online and accelerating the supply of materials for U.S. rare earth production.
“We do not celebrate progress by announcing we have built a floor or a wall. Success is producing the rare earth metals and oxides that power America and our allies,” said Nick Myers, co-founder and CEO of Phoenix Tailings. “Support from the Town of Greece, Greater Rochester Enterprise and New York State helps us upgrade the existing buildings and infrastructure at Eastman Business Park to bring production online faster for America.”
The support package combines state and local tax incentives with anticipated infrastructure funding. It includes up to $3 million in performance-based tax credits through Empire State Development’s Excelsior Jobs Program and approximately $15.9 million in separate New York State investment tax credits. The remaining approximately $35.3 million comprises tax savings on eligible equipment and construction materials, along with anticipated funding for power infrastructure improvements serving the project. Additional county programs are expected to support equipment purchases and workforce training. Subject to applicable eligibility and performance requirements, approvals and final award terms, this support is expected to lower project costs and allow Phoenix to direct more capital toward process equipment, production capacity and hiring local labor.
“Under Governor Hochul’s leadership, New York State continues to partner with innovative, dynamic companies that want to invest, grow and create jobs,” said Empire State Development President, CEO and Commissioner Hope Knight. “Phoenix Tailings’ commitment means that new high-tech jobs and advanced technologies will be coming to Eastman Business Park, supporting regional economic growth in the Finger Lakes and demonstrating the success of our strategic efforts.”
The incentives build on the previously announced conditional loan from the U.S. Department of War for the Freedom Project. Leveraging existing industrial buildings, utilities and chemical-processing infrastructure at Eastman Business Park accelerates deployment, allowing Phoenix to focus investment on equipment installation and production. State and local partners, including Monroe County and RED-Rochester, are helping advance the project, with support spanning site development, permitting and access to Rochester’s experienced manufacturing workforce. This is in conjunction with the previously announced $500 million U.S. Department of War’s Office of Strategic Capital conditional loan to Phoenix to expand domestic rare earth processing capacity.
“Building America’s rare earth supply chain is a national security imperative and bipartisan government priority,” said Pat Kumashiro, Chief Strategy Officer at Phoenix Tailings. “We are excited to see federal, state, and local stakeholders collaborate to support domestic production of the critical materials America needs.”
Freedom Separation is designed to process more than 18,000 tons of rare earth feedstock annually, producing more than 4,400 tons of separated rare earth oxides at full capacity for downstream production through Freedom Metallization. Together, the Freedom separation-and-metallization system is designed to strengthen access to domestic processing for America and her allies while reducing reliance on foreign supply chains and advancing environmentally responsible production. The Rochester facility will support more than 200 direct New York jobs when fully operational, including 90 at launch. Production is scheduled to ramp in 2027, with full production planned for 2028.
“This is about making sure the next generation of American innovation is built right here in Rochester, by American workers,” said Representative Joe Morelle.
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“We are pleased that Phoenix Tailings found the right site, infrastructure, and skilled workforce to support its rare earth separation facility in the Greater Rochester, NY region,” Greater Rochester Enterprise President Matt Hurlbutt said. “GRE worked with Phoenix Tailings on every aspect of this project, from site selection and incentives to permitting and talent. We’ll continue to support the company’s leadership team as they expand their operations in the Greater Rochester, NY, region.”
“We are proud to welcome Phoenix Tailings to Monroe County and thrilled that they have chosen Eastman Business Park for this significant investment in our community,” said Monroe County Executive Adam Bello. “Their innovative technology is transforming industrial waste into critical materials that power everything from electric vehicles to advanced manufacturing, strengthening American supply chains and creating new opportunities for economic growth. With an approximately $600 million total install cost and the promise of hundreds of new jobs, Phoenix Tailings is helping build the next generation of advanced manufacturing right here in Monroe County. Thank you to Governor Kathy Hochul for her leadership and unwavering support for our community, and for her continued commitment to bringing good-paying jobs and new opportunities to our region.”
Bob Duffy, president and CEO of the Greater Rochester Chamber of Commerce and co-chair of the Finger Lakes Regional Economic Development Council, said, “Congratulations to Nick Myers and the whole Phoenix Tailings team on this tremendous announcement! With the opportunity to grow anywhere, this investment in Greater Rochester, and specifically in Eastman Business Park, is a strong signal that our community is open for business, capitalizing on our historic legacy to propel future growth and innovative redevelopment. Eastman Business Park is growing into a hub for job creation, sustainability, and once again, regional pride. Thank you to Governor Kathy Hochul, Nick Myers, and all other partners whose leadership contributed to this decision. We are proud to help welcome Phoenix Tailings to our community.”
Greece Town Supervisor Jeff McCann said, “Just as Kodak Park was an integral part of Greece's growth and development, so too is Eastman Business Park's success tied to Greece's future. The addition of Phoenix Tailings and its 90 new jobs will not only help Greece's economy, it will cement Eastman Business Park's role as a hub for advanced manufacturing in our region. We are grateful to Governor Hochul and Commissioner Knight for supporting the upstate economy by bringing this major project to our community.”
About Phoenix Tailings
Phoenix Tailings is building the world's most advanced rare earth and critical minerals manufacturing platform. The company combines breakthrough chemistry, industrial hardware, and digital infrastructure to produce the materials that power modern technology. By rebuilding domestic separation, refining, and metal production capabilities, Phoenix Tailings is strengthening America's industrial base, securing critical supply chains, and accelerating the future of advanced manufacturing.
Media contact: Max Fresen | Phoenix Tailings | max.fresen@phoenixtailings.com | 1-781-831-2661
