The Eastman Kodak Company is set to be on the forefront of a federal initiative to shift production of generic prescription drugs to the U.S.
Some of those drugs are even used in the fight against COVID-19.
A $765 million federal loan through the U.S. International Development Finance Corporation (DFC) will be given to Eastman Kodak to produce pharmaceuticals in Rochester.
The company will also produce products at a facility in St. Paul, Minnesota.
The goal is to ramp up production of pharmaceuticals in the U.S. to a point where the country is able to produce 25% of the active ingredeients necessary to make its own medicines.
It’s a long-term process that will likely take 5-8 years to make a reality.
Kodak will be adding 300 jobs in Rochester, and another 1,200 indirect support jobs to come along with it.