The Chautauqua County Industrial Development Agency board approved the loan at its meeting Tuesday that Crunch Factory will use to purchase and install new equipment. The total cost of the new investment is $1.4 million.
Once installed and in use, the new equipment will significantly increase production for the Crunch Factory operation, allowing it to sell its products in new markets. The new equipment will result in the retention of 38 jobs at the plant, and creation of eight additional jobs, bringing the new employment total to 46.
Crunch Factory has been operating in Westfield since 2016 as a food processor, specializing in making its signature “Crunch Roll™” snack food and appetizers that are sold frozen and then heated when ready to eat. It opened under the Start-up NY program with assistance from the CCIDA through its AL Tech Revolving Loan and Chautauqua Revolving Loan funds, along with a 10-year tax lease/PILOT agreement. At the time, the total cost to acquire the property, make renovations, and purchase the needed equipment was $1.8 million.
Since opening, Crunch Factory has sold its product line to grocery stores, restaurants, hotels, arenas, gaming operations, colleges, amusement parks, military commissaries, and convenient stores.
The new crunch roll production machine will provide the capacity to increase output and reduce waste. It will also enable the company to begin producing a new product line of “Mini-Crunch Rolls.”
The terms of the CCIDA loans are $175,000 for Total Working Capital at 4.00% for five years, and $225,000 for Machinery and Equipment at 4.00% for seven years.
For more information about Crunch Factory and its products, visit CrunchFactory.com.