WELLSVILLE – On Tuesday, P.M. Research announced that the company had entered into a lease agreement with the Steam & Air Solutions business of Curtiss-Wright to utilize a portion of the office space located at Plant 2 on Tarantine Boulevard in Wellsville, effective March 16. The lease agreement will allow 32 Curtiss-Wright employees to continue to work in Wellsville.
The former GE/Lufkin facility on Tarantine Road is currently owned by the Allegany County Industrial Development Agency (ACIDA). Since 2018, P.M. Research entered into a lease-purchase agreement, which included a Payment in lieu of Taxes (PILOT) agreement, with the IDA to acquire the facility in order to expand manufacturing space for the company’s Precision Armament division.
ACIDA Executive Director, Craig Clark, was fortified by the news that a lease agreement had been reached between the two companies.
“The ACIDA extends our thanks to Curtiss-Wright and P.M. Research for working together to reach an agreement at the ACIDA owned facility on Tarantine Boulevard,” said Clark. “This agreement is a testament to the creative collaboration and willingness of Allegany County businesses to work together to find solutions that benefit our local employees, local economy, and our residents; their ability to cooperate to reach an agreement aligns with the ACIDA’s mission to retain and expand business in Allegany County.”
Curt Crandall, Chairman of the Allegany County Board of Legislators, echoed Clark’s enthusiasm about the agreement.
“On behalf of the Board of Legislators, we are very pleased with the agreement made between P.M. Research and Curtiss-Wright that will allow these jobs to remain in Wellsville,” said Crandall. “Utilizing the office space at the facility on Tarantine Boulevard to retain Allegany County jobs, while at the same time expanding P.M. Research manufacturing at the facility is great news for Allegany County.”
