Augmenting the manufacture of kits, The Lancair company was formed as an autonomous firm in 1994. It designed and developed the four-seat Columbia 300, which was unveiled at Oshkosh in August 1997 and assembled at a new 13,100 m² (141,000 sq ft) facility at Bend Municipal Airport, Bend, Oregon; a 3,710 m² (40,000 sq ft) extension was started in October 2003.
In July 2002 Lancair's certified company began to lay off part of its workforce, reducing from 320 to 43 by September 2002, following the company's failure to achieve a US$25 million finance deal. On 23 September 2002 Lancair Company was offered for sale and on 12 December 2002 announced it had reached agreement with a Malaysian organisation. In January 2003 the company received full funding and a change in majority ownership, which provided capital to increase production of the Columbia 300 and finalise certification of the Columbia 350 and 400. The workforce had increased to over 300 by July 2003.

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