Kodak (NASDAQ:KODK) is known to be one of the pioneers of the photography industry. However, the company seems to be changing role and it’s aiming to become a landlord for 58 different startups. The major decision has been taken by the company after facing bankruptcy.
Kodak is planning to provide space for 58 different companies in its 2 square mile campus. These companies would also gain an access to the specialty technical and industrial capabilities of Kodak. These companies would also have an access to its railroad.
2 medical marijuana companies are waiting for their license approval later this year. Once the approval is made, these companies will put up pharmaceutical grade dispensaries in the Kodak Park. The worker capacity of the Kodak Park is 30,000 but according to the experts, it would only reach 10,000-11,000 in realistic terms. Currently, 6000 people are working there and 1200 of them being the employees of Kodak.
There are an ample of benefits that the companies can avail in the Kodak Park. It possesses a 125 Megawatt power plant along with a water purification plant, fire department, and waste water treatment facility along with other facilities available at the Park. These are some of the major facilities that are required by the startups.
The companies that were scared of the unpredictable future of Eastman Kodak Company are not getting reassured after the photography pioneer changed its role by being a landlord for the startups. The State of New York has vowed to invest $100 million in the Park for making it more useful.
Kodak had different ideas about the future of the business park in 2014. They intended to sell the park, but they have now decided to keep it as a separate division. The decision has come after the company claimed its commitment to grow its motion picture and commercial film business.