This Week
  • The Market at I-Square is a milestone for the $18 million project in Irondequoit.

  • Leonard Brock grew up very poor and tries to help others in need.

  • Pharos Systems International has grown to become a multinational enterprise.

  • For employees today, paid leave is one of the most important benefits.

  • New Simon School dean Andrew Ainslie has a plan to raise its national stature.

  • The RBJ 75 supplement presents a list of the 75 largest private-sector employers.

A deal that works

Rochester Business Journal
July 5, 2013

This is the way things should work: With a cloud of uncertainty caused by Eastman Kodak Co.'s bankruptcy hanging over the nearly three dozen companies now located at Eastman Business Park, state and local officials worked with Kodak to forge a solution.
 
The result was the agreement announced two weeks ago that addresses environmental and operational concerns at the 1,200-acre complex. The deal creates a framework for resolving a range of issues that could jeopardize the 6,000 jobs now at the business park-not to mention those that might locate there in the future.
 
The agreement, which requires bankruptcy court approval, has a trio of key provisions. First, it establishes a $49 million environmental trust fund managed by the state Department of Environmental Conservation and funded entirely by Kodak. The trust fund gives Kodak, along with current and prospective EBP property owners protection from liabilities due to past pollution, while providing for ongoing remediation.
 
Another provision authorizes Recycled Energy Development to assume ownership and operating responsibilities for all utilities at the business park. The Illinois-based firm intends to continue supplying electricity, steam, water, refrigeration, compressed air, and nitrogen and treating wastewater for the business park's property owners and tenants.
 
The third key element of the agreement calls for Kodak to maintain important operations at the business park. These include a range of advanced manufacturing operations as well as the Kodak Technical Center, the company's top advanced-technology research and development facility.
 
Together, these provisions address a clear, significant local concern-indeed, securing Eastman Business Park's future ranks as the Finger Lakes Regional Economic Development Council's top priority.
 
The agreement stands in contrast to Gov. Andrew Cuomo's much-ballyhooed Start-Up NY legislation, which even with its 11th-hour name change and minor revisions remains an attempt to spur economic development by playing favorites. It is driven less by need than by theory-one hatched in Albany, not the marketplace.

The EBP agreement might not have a catchy name, but with common sense on its side, it hardly needs one. 

7/5/13 (c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google