The Lake Erie College of Osteopathic Medicine has joined the LORD Corporation in announcing a decision that will keep the industrial company in Erie while providing the College property for future growth.
|The Lord Technology Center , adjacent to LECOM Erie, more than doubles the college's available space for future educational programs. Click here to see property from satellite view.|
LORD Corporation is releasing plans to relocate and combine its operations in Erie, Pa. to an existing one-million-square-foot facility in Summit Township,Pa. The announcement is being made today in a joint press conference with LECOM, held at the LORD Grandview Technology Center on 2000 West Grandview Boulevard.
The company has agreed to purchase the property at 2455 Robison Road from Bush Industries. LECOM will purchase the Grandview Technology Center property that is adjacent to the Erie campus.
“The opportunity to sell the Grandview facility to LECOM makes it viable for us to purchase the Robison Road facility – which will allow for both a gradual transition to an enhanced manufacturing space and co-location of our Erie employees,” said Rick McNeel, chairman, president and CEO of LORD Corporation. “LECOM will be able to expand their school onto adjacent property. The collaboration between business leaders and state and local government agencies has resulted in a win-win solution for LORD, LECOM, our employees and our community.”
|LORD CEO Rick McNeel announces the agreement with LECOM that makes it possible for his company to relocate to a larger facility while keeping jobs in Erie County.Tesa Oechsle (left) of LORD introduced the speakers. LECOM Board Chairman Michael Visnosky (center) listens with Pennsylvania Senator Jane Earll and U.S. Congressman Mike Kelly.|
LECOM Board Chairman Michael Visnosky, Esq, said,”the efforts of many good people working together are providing the opportunity for the growth and expansion of two of Erie’s home grown enterprises.”
LECOM’s purchase provides LORD with a capital contribution that insures the company keeps its presence in Erie. “It also provides LORD with adequate time to systematically develop and move to the Summit Township site,” Visnosky explained.
LORD officials estimate it will take 18-36 months to relocate operations to Summit Township. During that time, the company will lease space on Grandview Boulevard from LECOM.
When LORD has completed its use of the property, the College will assess the research facilities to determine the compatibility with the research needs of the LECOM faculty and students. The College will assess the future growth needs for the Erie campus and determine the best uses for the property.
“It provides LECOM a guaranteed area for the expansion of its educational programs in Erie for many years to come,” according to Visnosky. “LECOM’s participation in this project with LORD and the many governmental agencies is just another example of its continuing commitment to its hometown. This mutually beneficial transaction not only means new and better jobs for Erie now but also the promise of a better future built on a solid base of education, research and manufacturing.”
The Lord Technology Center sits on 29 acres of land and the addition of this property connects the Erie campus with seven acres the college owns just west of the LORD facility. LECOM will own nearly 50 acres of land along West Grandview Boulevard and have additional 187,000 square feet of space for use by the College.
The Lake Erie College of Osteopathic Medicine offers innovative and affordable education in osteopathic medicine, dentistry and pharmacy. From campuses in Erie, Pennsylvania, Greensburg, Pennsylvania and Bradenton, Florida, LECOM provides student-centered pathways to prepare the next generation of healthcare professionals.
Founded in 1924, LORD Corporation is a privately-held company that designs, manufactures and markets mechanical devices and electromechanical systems to control vibration, motion and noise; formulates, produces and sells general purpose and specialty adhesives, coatings and electronic materials; and develops products and systems utilizing magnetically responsive technologies. With headquarters in Cary, N.C., and sales in excess of $780MM, LORD has manufacturing in nine countries and offices in more than 15 major business centers. LORD Corporation employs more than 2,700 worldwide. Visit www.lord.com for more information.