State & Union: Stitt passing torch as chair of Olean Business Development

OLEAN — James E. Stitt, executive chairman of Cutco Corporation, is stepping down as chairman of the Olean Business Development Corp., an organization he helped to found as a chief architect of its strategic plan to reinvigorate small business in the greater Olean area.

Stitt led a group of investors who bought the then-vacant Olean Business Institute building and spearheaded more than $1.5 million in renovations. He is succeeded as chair by Steve McClain, Cutco’s director of corporate sales and digital marketing.

“It was time to pass the torch,” Stitt says. “The OBDC project was one of the most important and rewarding experiences I’ve had. The team was able to take a building that was deteriorating and transform it into a hallmark of downtown Olean again.”

Bob Forness, OBDC's President & Executive Director, praises Stitt’s leadership and vision.

“Jim has set up our future success with the momentum that he has helped to build in his over 10 years as board chair,” he says. “He was instrumental in helping create and launch the Laine Business Accelerator, which will identify its sixth cohort this summer.”

McClain has extensive experience with OBDC, having served on its board for five years and as chair of the Laine Business Accelerator.

“In Steve, we get an experienced, energetic leader who shares and expands on Jim’s vision for the organization,” Forness continues. “We are excited to have him succeed Jim in this strategic position at OBDC.”

For his part, McClain says he, too, is excited to lead the board.

“Being chair of the LBA committee has exposed me to the energy and commitment of so many businesspeople in the area,” he says. “And seeing them grow through the program has been rewarding, both professionally and personally. I look forward to being an even bigger part of OBDC as I become its chair.”