STATEMENT FROM CONGRESSMAN JOE MORELLE ON KODAK’S $786 MILLION LOAN UNDER THE DEFENSE PRODUCTION ACT

July 28, 2020
Press Release
Kodak wins first of its kind loan under the Defense Production Act, bringing new opportunities to Rochester

(WASHINGTON, D.C.) – Congressman Joe Morelle released the following statement in response to the announcement that Kodak will be receiving a $786 million dollar loan under the Defense Production Act.

“Rochestarians have long harnessed their entrepreneurial fortitude to create some of our society’s most ingenuitive inventions. That’s why the name Kodak has been synonymous with Rochester for over a century, and why we’ve been given this opportunity to step upboth for our community and for our nation.

“It’s not one without risks, but when people are struggling to afford everyday necessities, the ability to produce ingredients for prescription drugs here at home will provide better access to affordable drugs for millions of Americans. The implications of this are huge‪everyday American families should not have to empty their bank account for medicine they need to survive. It is my hope that Kodak can start paving the way to making this a reality for all.

“The knowledge, the skilled workforce, and the potential Kodak has to contribute to our society at this time wouldn’t be possible without the significant investment we’ve made in them throughout the years. In my time in state and federal government, Kodak has always contributed to Rochester’s rich history, and today, I see the opportunity for another exciting chapter to begin to unfold.”

###