Rochester, N.Y. - Businesses that have set up shop at the Eastman Business Park will have new management for their utilities.
Eastman Kodak announced the sale of its coal-fired power plant at the Eastman Business Park Friday.
Recycled Energy Development will operate the park's facilities.
The Illinois-based company also plans to invest $40 to $80 million to convert the old plant to cleaner-burning natural gas fuel.
The deal is still subject to approval from the U.S. Bankruptcy court. Kodak would get about $10 million in cash for the plant and the park's utility infrastructure.
In a statement released this morning, Kodak says it believes this will help foster continued economic growth at the budding business park.
Just this week, two businesses at the park were awarded grants from the state through the governor's Regional Economic Council awards.
RED has promised to offer "competitively priced, reliable and sustainable services" to the park's tenants.