Kodak has put Eastman Business Park up for sale. The company had been selling and leasing out parts of the park, but now Kodak wants to offload the remaining property entirely.
The announcement comes just a month after Kodak, the State Department of Environmental Conservation, and the federal Environmental Protection Agency agreed on a trust fund to pay for legacy pollution at the industrial complex and in the Genesee River. Under that agreement, future tenants and owners are absolved of liability for pollution caused by Kodak.
Last year, Kodak also finalized the sale of the business park's power plant and utilities system to Recycled Energy Development. The company plans to upgrade the plant so it meets new federal and state emissions requirements. Economic development officials have said the low-cost electricity and other utilities make the site attractive to certain key industries.
State and local government officials say that redeveloping the former Kodak Park into a multi-tenant manufacturing, commercialization, and research facility is a top regional priority. The state has invested considerable economic development funding and incentives into the site: $90 million by Kodak's account.
The park occupies 1,200 acres in Rochester and Greece, but Kodak only owns 700 acres of that property.