The City of Rochester has been given state approval to establish one of the state’s ten Land Banks. The city’s Land Bank will support the acquisition of vacant, tax-delinquent properties which will then be renovated and sold through the HOME Rochester program. The aim is to also get more properties back on the tax rolls.
Kodak filed for Chapter 11 bankruptcy a year ago. The intervening months have seen big layoffs, pay freezes for workers, and an end to benefits for many of the company's retirees. However, Kodak also secured an extra $830 million in funding, and sold its patent portfolio.
The sale of the Hickey Freeman parent company was approved by the U.S Bankruptcy Court Wednesday. Authentic Brands Groups (ABG) and W-Diamond Corporation have been given the go ahead to purchase the intellectual and physical property of the company.
Kodak has reached an agreement for the sale of their digital patent portfolio. Under the agreement, the company will receive $525 million for the imaging patents from Intellectual Ventures, a major holder of US patents, and a group of 12 licensees.
Closing the gap between innovation and commercialization is the key to boosting the national economy. That is one of the messages at a manufacturing summit being held in Rochester this week. Industry leaders say economic growth triggered by American ideas needs to be kept within the United States' borders.
An upstate school is adding a structure that generates its own energy, heating and cooling using renewable energy sources for its teaching spaces. The Harley School in Rochester broke ground on the $3 million project Monday.
Cybersecurity and technology companies have converged on upstate New York for the HackerFest technology trade show this week. And new technologies are emerging to step up security and pre-empt the strategies of cyber criminals.
Senator Charles Schumer says a new center to open in Rochester will be a model for cities all over the state and the nation. He made the statement at the launch of the new center for urban entrepreneurship in the city.