Carestream Health Inc., a stand-alone company that will result from the sale of Eastman Kodak’s health group, will create 500 high-paying jobs at its Rochester world headquarters and bring its work force there to 1,300 over the next six years.
In return, Carestream Health will receive a $2 million grant and be eligible for other benefits associated with being given Regionally Significant Project status by the Rochester City Council. The grant is to be applied toward the estimated $12 million cost of renovations and infrastructure improvements at two buildings which will house the company’s office and manufacturing functions.
"This is a significant investment in Rochester’s future. We are pleased by the confidence Carestream Health and its parent, Onex Corp., are showing in our efforts to revitalize the Upstate economy,” Governor Eliot Spitzer said.
Toronto-based Onex agreed earlier this year to purchase the assets of Eastman Kodak’s medical imaging division for $2.3 billion and formed Carestream Health to effect that purchase. That transaction is expected to close in the first half of this year. The division manufactures x-ray film equipment as well as other medical imaging products.
“We are thrilled with New York’s support for Carestream Health,” said Kevin J. Hobert, who is to become the chief executive officer of Carestream Health. “We love Rochester and Upstate New York — the community and the people. The talented work force is an incredible asset. Thanks to this support, we can commit to developing and growing our business right here in Rochester, and we couldn’t be more excited.”
Being granted Regionally Significant status allows Carestream Health to apply for benefits under the State’s Empire Zone program. The $2 million structured grant is from the JOBS Now program.
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