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<br />Economic Development Authority Meeting <br />July 31, 1995 <br /> <br />Page 2 <br /> <br />Custom Cutter is a tool and cutter grinding machine shop. The company <br />manufactures precision cutting tools for industrial use, modifies standard tools to <br />fit special needs, sharpens modified tools, and sharpens standard over-the- <br />counter tooling. In 1987, Custom Cutter began manufacturing carbide thread <br />mills for one of its customers. It was later refined and developed into a product <br />line that is sold under the trademark Custom Cut. This year, thread mill sales will <br />top $100,000 and represents over 20% of Custom Cutter's overall sales. <br />Company growth with this product line is hampered due to limited space <br />availability for machinery and employees. <br /> <br />COMMISSIONER FARBER MOVED TO RECOMMEND APPROVAL. COMMISSIONER <br />HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 4-0 <br /> <br />3. Adiournment <br /> <br />There being no further business, COMMISSIONER HOLMGREN MOVED TO <br />ADJOURN THE MEETING. COMMISSIONER FARBER SECONDED THE MOTION. THE <br />MOTION CARRIED 4-0. <br /> <br />The special meeting of the Elk River Economic Development Authority adjourned at <br />4:56. <br /> <br />Respectfully submitted, <br /> <br />)lifiJu~~ '&t\J~i(L <br /> <br />Michelle Dwyer, <br />Recording Secretary <br />