The Allegany County Industrial Development Agency (ACIDA)
recently acquired ownership of the GE Lufkin facility on December 29,
2017. The ACIDA has also been successful
in filling the manufacturing facility with PM Research who signed a long-term
agreement to expand their operations in the manufacturing facility on January
8, 2018.
PM Research has been headquartered in Wellsville since it
opened in 1973. It has three core manufacturing operations and its current
plans include expansion of its Precision Armament division into the facility.
The future expansion includes adding high end automated manufacturing using
state of the art CNC equipment. "We are very pleased to have been able to
work closely with the ACIDA to come to an agreement that benefits
everyone," said Matthew Vossler, co-CEO and President of PM Research.
The multi-million-dollar GE Lufkin facility closed earlier
in 2017 and GE Lufkin agreed to donate the facility to the ACIDA. The ACIDA was
interested in the donation to assure that the facility was not empty in the
future and that another advanced manufacturing operation would fill the
facility. The donation was facilitated with the assistance of Senator Chuck
Schumer.
"The ACIDA has worked with GE Lufkin since the
beginning of 2017 on the transfer and worked over that same period of time to
assure that the facility would be occupied once the transfer was completed,”
stated ACIDA Executive Director Craig Clark. “We are very excited about PM
Research agreeing to the long-term commitment for the facility. Assisting a
local company that has high end advanced manufacturing jobs that is expanding
is great for the community.”
“Filling the empty manufacturing facility has been a goal
since GE Lufkin announced closing the facility in late 2016 and the ability to
work through all the details in just over a year from that announcement is
great for the community,” stated ACIDA President Mike Johnsen.
“Congratulations to Dr. Clark and the IDA on the achievement
of these transactions. We look forward to the success and growth of PM Research
at this top-notch facility that can utilize the skills of our dedicated
workforce here in Allegany County,” said Curt Crandall, Chairman of the Board
of Legislators.
