Kodak establishes $1 million economic development fund

Kodak has announced that it is providing a$1 million grant to the Monroe County Development Corporation (MCDC) to be used to assist local businesses in creating and retaining jobs and to attract new businesses to the area.

"This grant will enable Monroe County to expand our efforts to assist local businesses in creating and retaining jobs and remaining viable and competitive in today's economy. It will also be another tool in attracting new businesses," said Monroe County Executive Maggie Brooks. "This contribution to Monroe County's economic development efforts is a clear example of Kodak's commitment to our community and its future and further demonstrates how important public-private partnerships are in strengthening our economy."

Charles Brown, Kodak's chief administrative officer and senior vice president said, "The revitalization of the Rochester economy depends on the collaborative efforts of business and government."

The $1 million grant will be used to create a revolving loan fund for businesses located in Monroe County. To be eligible, a business should demonstrate good credit and sound financial management. While the maximum amount can be up to $100,000, the loan from this fund is intended to be part of an overall package for a business that includes other economic development assistance and resources available in the community.

Business owners interested in learning more about the revolving loan fund should contact the Monroe County Department of Planning and Development at 428-2970.