The physical goods were relocated to Floyd Marshall's 30+ years tool and die shop where all prints, programs, and processing were converted to CNC machine tools. After being unable to facilitate an operational manufacturing facility in Auburn, the owners sold all of Ithaca's assets, trademarks, and manufacturing rights to the Marshalls from Upper Sandusky, Ohio. In 2005, it received a $150,000 development loan from Cayuga County, and in May of that year moved to larger facilities in Auburn. moved manufacturing to King Ferry, New York. In 1987, new owners Ithaca Acquisition, Inc. General Recreation filed for bankruptcy a second time in September 1985. After a failed attempt to move manufacturing to Colorado, it filed for Chapter 11 reorganization in December 1978, shuttering the plant on December 20 for several months. General Recreation encountered financial problems in the late 1970s, selling off all its subsidiaries except Ithaca Gun. The company was controlled by the Smith family until 1967, when it was sold to a Colorado company which later became General Recreation, Inc. An apartment project has been proposed for the site, and has been built.

The factory was condemned in March 2006 and only the smokestack presently remains. Various plans to demolish the derelict plant and to redevelop the land failed over the years, on account of the cost of remediation and community objection to construction proposals. In later years, the company came under criticism regarding environmental pollution of Fall Creek, especially by lead, which led to a Superfund remediation effort. The original factory was located in the Fall Creek neighborhood of the city, on a slope later known as Gun Hill, where the nearby waterfall supplied the main source of energy for the plant. The company was in the business of gun manufacture until 1916 when they were incorporated with Ithaca Gun Company in Ithaca, New York who continued with the LeFever gun production until 1921. He is best known as the inventor of the hammerless shotgun, first introduced in 1878. The Lefever Arms Company (1883–1916) was a manufacturer of guns in Syracuse, New York founded by Daniel Myron LeFever (1835–1906) who was an American gun maker, popularly known as 'Uncle Dan LeFever'. The company was responsible for much of the early industry of Tompkins County, especially during World War I and World War II, and counted among its later patrons John Philip Sousa and Annie Oakley. In 1883, Baker, Smith, and several partners moved to Ithaca and established the original Ithaca Gun Company.

Baker Company, which manufactured double- and triple-barreled shotguns, from Center Lisle, New York to Syracuse.

Īround 1877, Leroy Smith went into business with William Henry Baker. Its hunting shotguns were known for their fine decorative work, typically waterfowl or hunting dogs. Its 12-gauge shotguns were the standard used by the Los Angeles Police Department and New York Police Department, and even sold to the Royal Thai Army in the early 1980s to arm farmers against communist infiltrators. Ithaca also produced the M1911 pistol and the M3 Grease Gun for the United States military during World War II. Ithaca became famous for building firearms based on expired patents owned by Remington Arms (in 1989, Remington purchased a design from Ithaca, the Mag-10 shotgun, which they produced as the SP-10). Over the years, Ithaca made numerous firearms, most notably the Ithaca 37 shotgun.

Ithaca gun company serial number