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Heidelberg & Kodak Take Advantage as Business Park Gains Tax Free Status

Press release from the issuing company

ROCHESTER, N.Y.-Dec. 10, 2001--At a ceremony Thursday, Governor Pataki officially announced the creation of an Empire Zone at the Rochester Technology Park (RTP) in Gates, New York. Its a special tax free zone that allows businesses who occupy the park to operate virtually free of all state and local taxes. In addition to the tax benefits, businesses at the corporate campus also receive discounted rates on utilities and other incentives. The 500-acre campus was once a former Eastman Kodak Facility. In total, it contains five million square feet of multi-use commercial buildings. The RTP is owned by Cohen Asset Management, a Los Angeles-based, private real estate investment firm. It is one of the largest multi-use office/industrial properties available for lease in the U.S. The property is six miles west of downtown Rochester in Monroe County, N.Y. Current RTC tenants include Heidelberg Digital which has its world headquarters at RTP and occupies one million square feet. Kodak still has close to 200,000 square feet.