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The Goodman St. facility is the flagship for this new company. I've worked there. Very adaptable for new product lines, and Rochester is perfect for the rebirth of this former powerhouse.
Remember when that building was a 'General Dynamics' facility.....and there was a men's clothing store, 'Bond Clothes', at the front corner of the building? And for that matter, anyone remember when B&L was on St. Paul Street, one block north of the Genesee Brewery?
What do you get for those taxes in comparison? Is it a tit for tat comparison? I'm asking because I'm thinking that there may be other factors to consider other than the usual tax aspect. I'm thinking incentives or even something like who was able to buy the company and where they wanted it located, regardless of "business climate".
Yes, Quebec is often quite open to giving "incentives" to companies to locate or stay here.
I know B&L very well. They used to make all kinds of Optical products including frames, lenses and equipment. Then they got into the Contact lens business and did extremely well. Contact lens solutions also did extremely well.
Wikipedia:
A massive restructuring of the company began in the mid-80s. What had been the core divisions, the production of lenses for various purposes, were sold off. The sunglasses division was continued as Ray-Ban and kept selling very well due to effective product placement. By the planned acquisition of other firms, such as Polymer Technology Corporation and Dr. Mann Pharma, existing business areas such as contact lens production were strengthened and new ones were initiated. Finally in 1997, as a result of a series of company acquisitions, the division for the production of surgical products was established. The Ray-Ban brand was sold in 1999 to the Italian Luxottica Group.
Since then B&L has evolved into a global company concentrating on Contact Lenses, Pharmaceuticals and Surgical Products.
Bausch Health to Spin Off Bausch & Lomb Into Separate Company
Financial analyst George Conboy from Brighton Securities talked about what the news could mean for the Rochester area.
"The most hoped for impact for Rochester is that Bausch and Lomb's headquarters could return to our area. Back when Valient, now Bausch Health, bought Bausch and Lomb, they moved their headquarters to Montreal. If the headquarters comes back that would be an important step in seeing an independent Bausch and Lomb in Rochester," said Conboy.
Whether they return to Rochester remains to be seen, only time will tell. Just because they started there doesn't mean that they will return. They can go anywhere now. Lets see what happens.
I know B&L very well. They used to make all kinds of Optical products including frames, lenses and equipment. Then they got into the Contact lens business and did extremely well. Contact lens solutions also did extremely well.
Wikipedia:
A massive restructuring of the company began in the mid-80s. What had been the core divisions, the production of lenses for various purposes, were sold off. The sunglasses division was continued as Ray-Ban and kept selling very well due to effective product placement. By the planned acquisition of other firms, such as Polymer Technology Corporation and Dr. Mann Pharma, existing business areas such as contact lens production were strengthened and new ones were initiated. Finally in 1997, as a result of a series of company acquisitions, the division for the production of surgical products was established. The Ray-Ban brand was sold in 1999 to the Italian Luxottica Group.
Since then B&L has evolved into a global company concentrating on Contact Lenses, Pharmaceuticals and Surgical Products.
Bausch Health to Spin Off Bausch & Lomb Into Separate Company
Financial analyst George Conboy from Brighton Securities talked about what the news could mean for the Rochester area.
"The most hoped for impact for Rochester is that Bausch and Lomb's headquarters could return to our area. Back when Valient, now Bausch Health, bought Bausch and Lomb, they moved their headquarters to Montreal. If the headquarters comes back that would be an important step in seeing an independent Bausch and Lomb in Rochester," said Conboy.
Whether they return to Rochester remains to be seen, only time will tell. Just because they started there doesn't mean that they will return. They can go anywhere now. Lets see what happens.
I find the comments from Conboy funny, the B&L tower (no idea what it's called now, or who even owns it), was trumpeted as a big deal when it was built in the 90's.
I just think it's sad there are not nearly as many headquarters of large businesses there, anymore. B&L was one of the good companies to work for years ago, a friend's dad worked his way up to VP of the company years ago, it was that kind of a place to work.
I just think it's sad there are not nearly as many headquarters of large businesses there, anymore. B&L was one of the good companies to work for years ago, a friend's dad worked his way up to VP of the company years ago, it was that kind of a place to work.
I agree. Rochester once had 5 Fortune 500 companies, and that was when Rochester was half the size it is now. There is currently only one fortune 500 company, Constellation Brands, and Paychex is close.
B&L sent me and my partner to the Olympics, all expenses paid and a total first class trip. We only touched our suitcases when we got to the airport in Buffalo and again in Buffalo when we returned. They unpacked and repacked them for us. They took care of everything and I mean everything, we traveled first class, they rented a hotel and staffed it with their own people, hired a fabulous chef and had housekeepers flown in. Dorothy Hamill stayed there with us too, it took me a day to recognize her. The nicest trip I have ever been on. We had tickets to the events and met all kinds of celebrities in the VIP tents. Back in the day B&L was a class act.
I know B&L very well. They used to make all kinds of Optical products including frames, lenses and equipment. Then they got into the Contact lens business and did extremely well. Contact lens solutions also did extremely well.
Since then B&L has evolved into a global company concentrating on Contact Lenses, Pharmaceuticals and Surgical Products.
Financial analyst George Conboy from Brighton Securities talked about what the news could mean for the Rochester area.
"The most hoped for impact for Rochester is that Bausch and Lomb's headquarters could return to our area. Back when Valient, now Bausch Health, bought Bausch and Lomb, they moved their headquarters to Montreal. If the headquarters comes back that would be an important step in seeing an independent Bausch and Lomb in Rochester," said Conboy.
Whether they return to Rochester remains to be seen, only time will tell. Just because they started there doesn't mean that they will return. They can go anywhere now. Lets see what happens.
The problem with returning B&L, at a corporate level, to the tower building, downtown, is that it likely involves only a couple hundred "suits". It doesn't bring back all the production jobs that B&L once had, probably 3-4000, here in Rochester.
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