Local business leaders say Kodak's latest venture could mean economic development for the entire region.

At Greater Rochester Enterprise, the 'economic development organization' helps connect corporations and business executives, and markets the Rochester region to investors

“It’s all of that, helping companies connect, find the people they need, connect to real estate assets and other businesses in the region," said GRE president and CEO Matt Hurlbutt.

That’s why Hurlbutt says the government and Kodak’s announcement Tuesday is so exciting.

“It’s a great story for Rochester and Kodak, in the sense that an investment at Eastman Business Park makes the park more attractive and the region as a whole,” Hurlbutt said.

Not only is the promise of more than 300 jobs great for Rochester, it also means even more jobs and companies are likely to follow.

“Companies like to follow other investments," Hurlbutt said. "And that helps feeds the innovation pipeline that really drives growth.”

In fact, GRE has a longstanding relationship with Kodak.

“We know the park well and those assets, the specialty chemicals unit is very productive," Hurlbutt said. "Kodak’s knowledge in material science and chemical expertise is world-renowned.”

And Hurlbutt is confident this isn’t just a win for Kodak and Rochester, but the entire region.

“It’s nice to see Rochester noticed on the national scale, and certainly the impact for Kodak is important," Hurlbutt said. "And we should be proud of our history here, and as well as the ability to adapt and see Rochester rise.”