- 1962 – Tony Palma started Palma Tool on Goodrich Street in downtown Buffalo.
- 1963 – Bill Tate hired as Tony’s 1st apprentice at the age of 18.
- 1964 – Palma Tool moved to Ashley Street where it would remain for the next 28 years.
- 1972 – Tom Owczarzak hired as an apprentice.
- 1985 – Tony Palma retires.
- 1986 – Bill Tate purchased Palma Tool from Tony Palma and became President and CEO. Tom Owczarzak soon after was named Executive Vice President and became Bill’s business partner.
- 1992 – A new building was constructed at 40 Ward Road as the new home of Palma Tool.
- 1994 – A 6,400 square foot warehouse addition was added to 40 Ward Road.
- 2000’s – Palma Tool transitions from being a Tool & Die shop to a Precision Machining manufacturer.
- 2020 – Bill Tate and Tom Owczarzak retire. Employees Stan Blaszak, Ed Schmidt, and Will Tate purchase Palma Tool from Bill and Tom.