Ontario County IDA Assists Bristol Mountain’s Galaxy Lift Project

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The ski resort was the first to take advantage of one-time-only tax incentive —

CANANDAIGUA, N.Y., February 4, 2010 — The Ontario County Industrial Development Agency (IDA) is pleased to support and celebrate with Bristol Mountain as the ski resort prepares to officially cut the ribbon on its new high-speed Galaxy Lift tomorrow morning.

The IDA assisted Bristol Mountain as part of a new sales-tax incentive program. The ski resort was the first company to take advantage of the new sales-tax incentive as part of its $3.2 million investment in the new high-speed chairlift. Recognized as a regionally significant tourism destination for the county, Bristol Mountain replaced its 30-year-old Galaxy chairlift with a high-speed quad chairlift, doubling the length and speed and increasing the capacity over the old lift. Skiers now have access to a faster, more user-friendly, and more convenient way to travel up the mountain.

“The IDA’s new sales-tax incentive was an important benefit for Bristol Mountain and helped make the entire project possible,” said ski resort President and CEO Dan Fuller. “When you’re investing $3.2 million in equipment, like we did, every penny saved is a penny that can be re-invested back into the business, back into our employees, and back into our guests, whom we serve every day.”

“We’re excited to celebrate with Bristol Mountain and are pleased that the IDA had an opportunity to help make this project happen, “ said OCIDA Executive Director Mike Manikowski. “We look forward to working with even more companies in the months ahead that may be considering similar investments.”

Businesses in Ontario County looking to invest $250,000 or more in major, non-manufacturing equipment purchases can apply for the new sales-tax incentive through the IDA. The incentive helps businesses offset some of the costs of such purchases, encouraging future investment and economic development throughout the county.

In developing the one-time-only, non-manufacturing sales-tax incentive, OCIDA staff researched similar programs offered by IDAs in other areas of the state. The Erie County IDA, County of Monroe IDA, and Cattaraugus County IDA all offer sales-tax incentives to businesses for non-manufacturing equipment purchases.

“Companies in Ontario County that are considering significant, non-manufacturing equipment purchases in the months ahead are encouraged to contact the IDA to see if they qualify for this new sales-tax incentive,” said OCIDA Director Mike Manikowski. “If the IDA can be a catalyst and assist these companies with such purchases, we all benefit — the investments help companies compete, create new jobs for local workers, and grow the entire Ontario County economy.”

For more information about OCIDA, please call 585-396-4460 or visit http://www.ontariocountydev.org.