FOR IMMEDIATE RELEASE
December 19, 2023
Contact: Mark Geise
Bailey Manufacturing Receives $130,000 Loan to Assist with Construction of New Warehouse
FORESTVILLE, NY: — At its December 19, 2023 meeting, the County of Chautauqua Industrial Development Agency (CCIDA) Board of Directors approved a $130,000 loan to Bailey Manufacturing Co., LLC to support the construction of a new warehouse building near its existing facility, located at 10987 Bennett State Rd., Forestville.
Bailey Manufacturing is a minority-owned manufacturer, providing metal stamping, machining, welding, and assembly services. A majority of its revenues are derived from supplying auto parts that eventually become components of the major auto manufacturers, serving primarily the United States, Mexico, China, and South Africa.
The approved loan will be utilized to erect a new, 7,000 square-foot pre-fabricated warehouse building adjacent to the existing manufacturing operation. The warehouse is needed due to business growth, with the existing plant no longer able to house all of the raw materials, finished goods, and manufacturing operations. Bailey Manufacturing also currently leases two out-of-town warehouses, creating logistical challenges for the manufacturer.
Once complete, the project will help to retain 65 existing, permanent jobs and also create two additional jobs. Currently, the company also has 19 temporary positions.
“The new warehouse facility is a much-needed addition to our operation,” said Bailey Manufacturing President and CEO John Hines. “Not only will it help to significantly improve efficiencies, but will also make our operation more cost-effective over time.”
The CCIDA has worked extensively with Bailey Manufacturing over many years. In 2017, the CCIDA Board of Director’s approved a $500,000 AL Tech Loan for the acquisition of the remaining 49% ownership of Bailey Manufacturing from John Hines’ partner, Megatech Corporation. In 2021, the CCIDA provided Bailey Manufacturing with CARES Act Funding from the Economic Development Administration when the company was significantly impacted by the coronavirus pandemic as a non-essential employer, along with lingering auto industry supply shortages.
“It is our pleasure to assist John with financing to complete the construction of the new warehouse, ensuring the company will remain in operation in Forestville for years to come, while also providing dozens of jobs in the north county,” said Mark Geise, Deputy County Executive for Economic Development and Chief Executive Officer of the CCIDA. “Small businesses are the backbone of our economy, and supporting Bailey Manufacturing not only benefits the County and region, but also aligns with the CCIDA’s mission.”
The terms of the CCIDA real estate loan is $130,000 at 4.00% for 10 years.
About Bailey Manufacturing Company, LLC – Bailey Manufacturing Co., LLC is located at 10987 Bennett State Road in Forestville, NY. Their extensive experience lies in the fabrication and engineering development of steel, aluminum, welded and assembled components. Bailey Manufacturing Company has been supplying product to the automotive industry for over 70 years and has established itself as a competitive, reliable, and quality-conscious organization. John Hines is President and CEO of the company, and has managed day-to-day operations for over 20 years.
About CCIDA – The CCIDA is an economic development organization authorized and empowered by the State of New York to make Chautauqua County a better place to work, live, and visit. They facilitate development by attracting new businesses, while promoting the retention and expansion of existing businesses. Assistance in the form of incentives – tax abatements, low interest loans, and bond financing – enhances the opportunities for job creation and retention by our businesses. For more information visit www.ccida.com.