Eastman Kodak today announced that the property formerly known as Kodak Park and for the last few years called Eastman Business Park (EBP) is now for sale. The site contains 1,200 acres and many buildings comprising 7.2 million square feet of space. The Park is currently home to 50 different companies and within those companies are 4,700 employees. The bankruptcy over the last few years has meant that Kodak has gotten rid of the majority of their divisions including the personal imaging division. Thus the amount of space that Kodak occupies in EBP is much smaller. The last hurdle for Kodak occurred in the last few months with an agreement with the NY State environmental department to set up a trust fund for past contamination of EBP and the Genesee River.
A few news outlets are reporting that EBP has its own electric, water & sewage plant and making it sound like those services will be included in the sale. In fact, Kodak over the last few years has sold all those services to a company named Recycled Energy Development (RED).
Kodak’s official press release tries to paint this sale as good news. The company says “Kodak believes the uniquely well-equipped site can best continue its transformation into a multi-use, multi-tenant industrial facility under the ownership of a firm focused on its redevelopment. At the same time, EBP’s sale will help Kodak to maintain its focus on its commercial imaging businesses.”
No price for EBP has been announced. A new owner would probably have to have a plan for some of the current open space in order for the sale to eventually make money.
Sitting on EBP on Lake Avenue is grave of George Eastman. Will the new owner also get George?