This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Rochester's Rise Amid Kodak's Demise


There are literally miles of Kodak's old industrial complex, which includes dormant factories, a power plant, a water treatment system and waste facilities, in addition to a private railroad, that are playing a part in Rochester's move beyond its corporate benefactor.

Eastman Business Park, once the world's largest manufacturing facility and still among the global elite, stands out as an expression of Rochester's ascendance amid Kodak's decline.

The company demolished more than 100 buildings and sold or spun off many of its old business divisions, but shrinking Kodak is selling and leasing for commercial and industrial use more than 2.5 million square feet of existing facility space and more than 300 acres of developable land, according to the park's Web site.

The park's occupants include more than 45 companies and at least 4,500 non-Kodak employees, according to the Rochester Business Alliance. One of its largest occupants is Johnson & Johnson's (JNJ - Get Report) Ortho Clinical Diagnostics, which employs approximately 1,150 people at its Rochester location.

Eastman Business Park Director Michael Alt and Kodak spokesman Chris Verdona declined to comment about the office park, but others in Rochester's business community said it's a great fit for the city's growing high-tech manufacturing sector.

For starters, the complex is self-sufficient and has the capacity for optics and imaging companies as well as medical devices. Carestream Health (a former Kodak property) produces medical film and digital imaging solutions. Optimation designs, fabricates, installs and maintains manufacturing systems. Cerion Energy works in the space of nanotechnology. These businesses were able to move into the business park with much of the infrastructure already in place for their highly specialized sectors.

Bill Pollock, age 65 and founder of Optimation, works in the park and has current and former ties to Kodak.

A slim man, with a square frame and silver hair, he said he started the company by himself in Rochester in 1984. Pollock worked at Kodak for 11 years, which is a short amount of time compared to other former employees interviewed by TheStreet who worked there 20 years, 30 years or more.

When asked if he would call himself a Kodak employee who became an entrepreneur, Pollock chuckled and said he was an entrepreneur who worked at Kodak a little while. Optimation was Pollock's idea, but he said Kodak's training and once-hefty endorsement for research and development in disruptive technology influenced him and his company.

Coincidentally, Pollock has now entered into an agreement with Kodak to produce touch-screen sensors by licensing the former photographic filmmaker's silver halide technology.
2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.89 -0.78%
JNJ $112.57 0.31%
MSFT $49.87 0.00%
XRX $9.28 -1.90%
FB $117.37 -0.58%


Chart of I:DJI
DOW 17,630.96 -20.30 -0.12%
S&P 500 2,048.14 -2.98 -0.15%
NASDAQ 4,715.7220 -9.9170 -0.21%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs