New York state’s second-largest winery is set to be restored.

Gov. Kathy Hochul on Friday announced that Vine Enterprises, LLC will invest at least $47 million to redevelop Pleasant Valley Winery in Hammondsport.

Vine Enterprises will take over operations and plan to hire more than 60 new employees as they relaunch the historic brand, begin processing and manufacturing and work to rehab the Champagne Cellars on the winery grounds.

“Vine Enterprises appreciates Governor Hochul’s support, and we are pleased to be partnering with New York State on this multi-phased, multi-year initiative, which we believe will drive meaningful, long-term growth for the state’s wine industry,” Vine Enterprises, LLC CEO Paul Hillen said in a statement. “We appreciate Empire State Development’s vital support as we embark on this project to support grape growers and the Finger Lakes region economy.”

Work is scheduled to get underway this fall.