IDA To Assist Local Businesses With Property Transaction
CHERRY CREEK — The Chautauqua County Industrial Development Agency will be assisting two local businesses with a property transaction.
On Tuesday, the IDA board passed a resolution approving a mortgage recording tax exemption for Lakeside Capital Corp., which is doing business as Dahlstrom Roll Form, for the purchase of 221 Lister Ave., Falconer. Dahlstrom Roll Form purchased the building from Inscape NY Inc., which will continue to lease 20,000 square feet and office space in the building for its fabrication business.
Carol Rasmussen, IDA business development manager, said the purchase of the facility increases Dahlstrom Roll Form useable square footage. Also, it presents the company with the opportunity to purchase an additional roll forming business, DC Roll Form, which is currently operating in the Lister Avenue building.
“Dahlstrom has been in business for (more than) 100 years and we are thrilled that they will continue to do business in Chautauqua County after considering locations outside of the area, including a ‘built-to-suit’ location in Pennsylvania,” said Mark Geise, IDA CEO. “I am proud of their workforce, their direction and their continued success in our county, and I’m glad that the IDA could play a role in keeping them in Chautauqua County.”
Dahlstrom Roll Form manufactures custom roll formed metal components. Original equipment manufactures make up about 90% of the company’s revenue. A majority of its customers are long-term and place repeat orders. Custom architectural metal moldings, with an unmatched offering, account for 10% of Dahlstrom Roll Form’s business. Architectural molding have a 115-year history with the company and are the fastest growing portion of its business.
Rasmussen said the purchase of the 130,000-square-foot building, which includes a 7.2 acre parcel, will take place by Dec. 31. She said the purchase cost is around $2.4 million. She added that the mortgage recording tax exemption will be an incentive of $30,000 for Dahlstrom Roll Form.