Nothing builds hope around Rochester more than news of new jobs. We've been disappointed plenty before. But Wall Street's reaction to the news the day after Kodak went into the generic drug-making business is making believers out of more people here.

Kodak's already moving forward with the plan to convert Eastman Business Park to a drug ingredient factory.

What You Need To Know

  • Kodak could double its business with the news it's entering the pharmaceutical business in Rochester

  • Kodak is moving forward with a plan to convert Eastman Business Park to a drug ingredient factory

  • The stock market responded positively to the news, with Kodak shares rising noticeably

Kodak is taking the first Defense Production Act loan, for $765 million, to build production.

By being a part of the federal government's response to the pandemic, Kodak could double its business.

Supporters say the infrastructure and footprint at the industrial park along Ridge Road make this a can't lose deal for Kodak.

Kodak Pharma will technically leap-frog the drug-making competition with the new lines it installs.

And advanced orders guaranteed by Governor Andrew Cuomo and New York state will give the new business a head start.

"This isn't about dreaming it up, hoping about it, if we build it they will come, they've got the orders and we think that makes a huge difference," said Adam Boehler of the U.S. International Development Finance Corporation. 

"So it's going to be a beautiful thing. There's a lot of old equipment tried and true. But you're going to see a lot of new stuff come here that's going to make us the envy of the world," said Dr. Peter Navarro, trade advisor to President Trump.

Kodak news traveled on Ridge Road at places like The Peppermill Restaurant. In the company's heyday, people would gather there 'round the clock, spend their Kodak bonuses there, and share the Kodak life. The owner and his customers feel hope for Kodak like they haven't in years. 

"We needed this like no other business. I just thought this area was so suppressed for so long after Kodak. It was amazing news. It almost brought tears to my eyes," said The Peppermill Restaurant owner Chris Christanis.

"Kodak is part of Rochester. I'm glad they're using the money to come back," said Tammy Howard of Rochester.

Enthusiasm in the markets for Kodak Pharmaceuticals was overwhelming on Wednesday. A dozen times, trading had to be stopped because of its climb.

It rose above $53 a share at one point. 

Loyal Kodak stock keepers will certainly enjoy that news.

Last Friday, the company's stock stood in the $2-a share range. 

Take a Kodak moment to take that in.