New York State and Kodak have announced an agreement they believe will enhance economic development at Eastman Business Park.
The agreement includes having Kodak set aside $49 million in a trust fund with the state, to help deal with any environmental issues that might crop up.
When asked by WXXI News whether $49 million would be enough money for such a large industrial park that has been around for so many years, Kodak spokesman Chris Veronda said that the company has already spent millions of dollars over the last couple of decades to deal with environmental issues at the business park.
“It’s probably one of the best characterized sites in the country in terms of 800 groundwater monitoring wells, extensive investigations that have gone on. "
With the announcement about the new partnership with the state, Kodak officials also committed to continuing operations at Eastman Business Park such as the Kodak Technical Center.
Kodak employs about 2500 people at the park, and other companies employ around 3500. Kodak says it expects to continue its operations at that business park for at least 10 years. A federal bankruptcy court must still approve the latest agreement between the state and Kodak.