Rand eyes Serta building for expansion; will keep Allen Street building as well
Rand eyes Serta building for expansion; will keep Allen Street building as well
Rand Machine Products is looking to expand to the former Serta Mattress factory in the Mason Industrial Park. P-J Photo by Gregory Bacon
IDA Project Manager Rosemarie Strandburg, left, is pictured with Rand Machine Products President Dan McKenrick. P-J Photo by Gregory Bacon
Rand Machine Products is looking to expand to the former Serta Mattress factory in the Mason Industrial Park. P-J Photo by Gregory Bacon
IDA Project Manager Rosemarie Strandburg, left, is pictured with Rand Machine Products President Dan McKenrick. P-J Photo by Gregory Bacon
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A precision machine company that sits just outside the village of Falconer is looking to add a second location in a closed south county factory building.
It announced at the Chautauqua County Industrial Development Agency meeting that Premier Precision Machining, LLC, also known as Rand Aerospace and Defense Group, is acquiring 2375 Parkway Drive in the town of Ellicott. That is the building where Serta Simmons Bedding had operated out of before it closed in December.
Rosemarie Strandburg with the county IDA stated that Rand is acquiring the building to support the growth of its defense programs.
"Growing customer demand requires additional manufacturing capacity over the next 12-18 months. This project will add that capacity while the Falconer capacity continues to run at full capacity," she said.
With this purchase, Strandburg said Rand is looking to not only retain its 115 jobs, but add an additional 31 new full-time positions over the next three years.
After the meeting Strandburg confirmed that Rand Machine Products is not looking to close its location at 2072 Allen Street Ext. in the town of Ellicott, but continue with two separate locations.
Strandburg said Rand is looking to make improvements to the former Serta Mattress building, which is located in the Mason Industrial Park, including electrical and HVAC upgrades, and installing machinery and equipment.
The entire cost of the project is around $5.7 million.
Strandburg said Rand is looking for a 20-year Payment In Lieu Of Taxes agreement.
Rand Machine Products President Dan McKenrick said the county IDA's partnership has "really solidified Rand" which is allowing them to expand.
"For the future there really is a generational change in the industry particularly in defense and aerospace and Rand has a unique opportunity in timing to capture that and secure that business for the future," he said.
Following Strandburg's presentation, the county IDA Board of Directors passed a "due diligence" resolution, which allows the IDA staff to explore the specifics of any tax incentives and likely hold a public hearing.
The IDA Board of Directors will need to have a second vote to finalize any PILOT agreements.