AL TECH LOAN APPROVED BY CCIDA FOR MAJOR EXPANSION
FOR IMMEDIATE RELEASE
December 15, 2020
Contact: Mark Geise
Falconer, New York – For over 70 years, Rand Machine has been a leading precision machining and component manufacturer, producing quality manufactured CNC components and assemblies for a variety of industries and companies worldwide at their facility on Allen Street in Falconer. In October 2017, Premier Precision Machining, LLC acquired Rand Machine Products, Inc., and since that time have been growing steadily. In order to accomplish their vision of continued expansion, they have improved and reconfigured their current facility, to the extent possible, to increase both capacity and efficiency; however, they have run out of space and need to expand if they are to continue on their growth trajectory.
Since purchasing Rand’s assets in 2017 with assistance from the County of Chautauqua Industrial Development Agency (CCIDA), the Precision Machining team has transformed the operations to a state-of-the-art facility, while vastly improving the company’s culture. Over this same time period, employment at the company has increased from 45 to 126 full time workers, and millions of dollars have been invested in new equipment. Ownership of the company resides with Kurt Grimm (President), Gregory Wales (Vice-President), Harry Greenhouse (Partner), and Peter Tur (Partner).
At their December 15, 2020 Board Meeting, the CCIDA approved a $382,000 AL Tech Loan to assist Premier Precision Machining, LLC (aka KGPHJ, LLC) in a $953,837 project to expand their footprint and operations. The company will expand and improve the facility where it currently operates by constructing a 7,000 sq. ft. building, which will bridge the main manufacturing facility and a 5,000 sq. ft. outbuilding on their property. No other CCIDA incentives were requested or afforded for the project.
Kurt Grimm, President of Premier Precision Inc., stated “I want to personally thank the CCIDA for its continuing support of our efforts at Rand Machine. In particular, Mark Geise and Rich Dixon whom, from our first days in the Jamestown-Falconer area, have made us feel at home and have gone above and beyond the call of duty in their support and concern for our employees, their job security, and have acted in full support of their success.” Rand has a talented, well-seasoned team with decades of experience and a practical approach to difficult problems in CNC (and conventional) machining, CAD/CAM, Mechanical Design/Engineering, Automated Systems Design, Failure Analysis for both Tool & Die, as well as Manufacturing Process Engineering & Development. A majority of their business is related to military applications.
“Rand Machine Products is pleased to be able to grow our operations by investing in our Chautauqua County facility,” stated Kurt Grimm, Vice President at Premier Precision, Inc. “Over the past three years we have experienced exponential growth, in no small part due to the unwavering support of the CCIDA. We believe in Chautauqua County and the spirit of the community. All of our employees, from the Director level down, are top notch talent that would be tough to beat in any other market in the US. We are proud to support the American Servicemen and Servicewomen, and are committed to making the highest quality product to continue that support for many years to come.”
Other plans underway at the facility include several long term maintenance and operational security projects. In order to be complaint with the operational security requirements as a defense contractor to the U.S. Government, they need to upgrade their security systems, including a new perimeter fence, video and audio surveillance, and reinforced doors.
“I am thrilled that the CCIDA can continue to be part of Rand/Precision Machining’s exponential growth cycle, resulting in the creation of a significant number of well-paying jobs,” said Mark Geise, CEO of the CCIDA and Deputy County Executive for Economic Development. “They could be the poster child for how to run a company.”
Currently, the company is at maximum capacity, and these improvements will facilitate the growth of their company revenues, as well as the creation of at least 50 new jobs over the next two years.
County Executive PJ Wendel said, “Kudos to Rand/Precision Machining, and the CCIDA for assisting them. I recently visited the facility with the CCIDA team and was duly impressed with their operations. I’m glad we could assist them so they can continue to grow and expand, while retaining and creating jobs.”
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, visit, and conduct business. The organization facilitates 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 for our businesses. For more information, visit www.ccida.com.