BRIGHTON, N.Y. — Billionaire entrepreneur and philanthropist Tom Golisano has announced he is creating a business institute.

During a news conference on Wednesday, he said it will offer a two-year certificate program with reduced tuition and time requirements. Tuition will be $8,900 per year, payable in two installments of $4,450. Tuition assistance and scholarships will be available for eligible students.

“I see Golisano Institute for Business & Entrepreneurship as an important alternative in business education, immersing students in an intensive business-only classroom and experiential learning environment,” said Golisano. “Unless you work for the government, everyone works for a business, but not everyone wants, needs, or can afford to take the traditional route to a business education. Our goal is to help each student go from learner to earner by equipping them with a set of skills and providing certification to enter the workforce or business world and progress their careers in a cost-effective manner and a reasonable length of time.”

The new institute is set to open in a former Paychex office on Sawgrass Drive in Brighton. Golisano says he will fund the entire program and expects it to be ready for the first class of students by next fall.

The Paychex founder's name and investment are already part of the RIT College of Computing and Information Sciences, Institute of Sustainability and Cybersecurity Hall. He is also a contributor to Roberts Wesleyan College, which is in the midst of building the new Golisano Community Engagement Center. In addition, the Golisano name adorns the college's library.

Tom Golisano has given more than $330 million to hospitals, charities and other groups across the region. For more information, visit Golisano Institute for Business & Entrepreneurship's website.