Local Graphics Company Purchased By Erie Businessman
A Jamestown graphics company is getting a new owner.
Jamestown Print Company, doing business as MW Graphics, has been purchased by Barry Sharp. It is located at 909 N. Main St. in the city.
Carol Rasmussen with the Chautauqua County Industrial Development Agency discussed the sale and the IDA’s involvement in getting him a loan during the board’s recent meeting.
“He (Sharp) owns a printing company in Erie, Pa.,” she said. “It’s very small; he’s by himself. He’s well associated with MW Graphics because they do his technical design work.”
According to Rasmussen, Sharp is purchasing the building, the company’s assets and equipment for $174,500. He is getting a $70,000 loan from Cattaraugus County Bank, $60,000 from the county IDA through the Al Tech revolving loan fund and a loan from the owners themselves.
The company is currently owned by two sisters. Rasmussen said they will continue to work for the company. Sharp also plans on adding one additional staff person for design work.
She said the company hopes to grow. “MW Graphics has a great reputation. They don’t go out and market very much so there is a plan in here for marketing also,” Rasmussen said.
County IDA Chairman Michael Metzger said he thinks Sharp will do well as the new owner. “It’s exciting that not only is he coming to Chautauqua County from Erie, but he’s maintaining the presence within Chautauqua County and keeping the current owners of the business,” he said.
There is also an apartment in the building that Rasmussen said Sharp plans to renovate and rent out for additional income.
The county IDA Board of Directors unanimously approved the loan.