Johnstown, NY— The Fulton County Economic Development Corporation has announced the expansion of Versatile Wood Fabrication and Perrone Leather, LLC.
The EDC said Perrone is leasing over 8,000 square feet of production, warehouse and distribution space at 122A Balzano Drive in the Crossroads Industrial Park and is purchasing leather finishing equipment. The company approached the Fulton County EDC loan committee with growth and expansion plans for their organization, specifically in the area of aircraft interiors. The Gloversville-based company received financing, through the local loan pool fund, to acquire the machinery and equipment that corresponds to the expansion and increased employment opportunities for local residents.
“Perrone Leather is experiencing significant growth in their business and that created a need for additional equipment and space. We were fortunate to be able to assist them with both of those needs. They will be purchasing equipment from the former H&J Leather finishing facility in the Johnstown Industrial Park,” said FCEDC Executive Vice President Jeff Bray. H&J filed for bankruptcy last year. “Because of the growth of Perrone Leather, we were able to put that equipment back in use developing new jobs and helping a local company in the community,” Bray added.
Perrone currently owns and occupies 23,000 square feet of space in the Glove Cities Industrial Park off of Harrison Street in Gloversville, home to their aerospace upholstery leather business. When the business was started in the spring of 2000, original projections were for 28 jobs. With their most recent expansion, that number is now at 46. “Our business has seen a steady increase since the terrorist attacks of September 11, 2001. Airline fleets that had aged prior to 9/11 were in need of an overhaul, and the market demanded an improved level of service along with the increase in airline ticket prices,” stated Perrone founders and partners William Perrone, Sr., William Perrone, Jr., and Bart Avery.
Perrone moved into space previously occupied by Versatile Wood Fabrication. Versatile, a manufacturer of wood pallets, has grown out of their space and have re-located and expanded into space at 178 Corporate Drive in the Crossroads Industrial Park where they are now occupying 14,012 square feet of space. “Our business has grown and now employs six people,” stated Versatile Owner and President, Albert Gentile. “We are fortunate that the EDC had space readily available and were able to meet our needs and accommodate the expansion,” Gentile added.
The EDC has also announced that The Coast Distribution System has renewed their lease at 6 Clermont Street in the Johnstown Industrial Park until 2009. Coast is the largest distributor of accessories, replacement parts and supplies for recreational vehicles and a major supplier of parts for boat and marine. This national company supplies more than 25,000 products to 15,000 customers through a distribution network of 14 locations throughout the United States. Coast sales for 2003 were reported at $156.5 million dollars and net income for the same period was $2.4 million. The company is publicly traded on the American Stock Exchange.
