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IDA loan to assist Rand Machine expansion project

Submitted Photo Chautauqua County Executive PJ Wendel, right, is pictured touring the Premier Precision Machining (Rand Machine Products) production area.

FALCONER — The expansion of the former Rand Machine Products continues.

On Tuesday, the Chautauqua County Industrial Development agency board approved loaning Premier Precision Machining, also known as Rand Machine Products, a $382,000 Al Tech loan during its monthly meeting.

Carol Rasmussen, IDA business development manager, said the loan is part of the financing for a $953,837 expansion project for the business, which is located at 2072 Allen St. Ext. She said the business owners are purchasing the building next to their location, with plans to construct a new building to expand its production area by 7,000 square feet. She added that Premier officials are planning to add 35 new jobs to their workforce.

Rasmussen said since the Rand Machine Products was purchased by Premier in October 2017, the business has expanded from 45 employees to 126.

“They’re just knocking it out of the park,” said Mark Geise, IDA CEO. “For us this is really exciting and this is a slam dunk.”

Rasmussen said in order for Premier to accomplish its vision of continued expansion, they have improved and reconfigured their current facility 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 IDA, the Premier team has transformed the operations to a state-of-the-art facility. Ownership of the company resides with Kurt Grimm, president, Gregory Wales, vice president, Harry Greenhouse, partner, Peter Tur, partner and Jason Ruhlman partner.

“Rand Machine Products is pleased to be able to grow our operations by investing in our Chautauqua County facility,” Grimm said. “Over the past three years, we have experienced exponential growth, in no small part due to the unwavering support of the IDA. 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 U.S. 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, the business needs to upgrade their security systems, including a new perimeter fence, video and audio surveillance and reinforced doors.

“I am thrilled that the IDA 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,” Geise said. “They could be the poster child for how to run a company.”

County Executive PJ Wendel said he has recently toured the business and is improves with its operations.

“I’m glad we could assist them so they can continue to grow and expand, while retaining and creating jobs,” he said.

Rand Machine has been providing complex parts for global corporations in the areas of oil and gas, aerospace, defense and transportation industries for more than 70 years.

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