Ontario County IDA Project Companies Meet 98.6% of Job Goal

News Date: 

— 62 companies invested $336 million, creating and retaining more than 6,100 jobs —

CANANDAIGUA, N.Y., August 12, 2010 — The Ontario County Industrial Development Agency (OCIDA) is pleased to report that through fiscal year end 2009, the most recent available, the agency’s 62 economic development projects, as reported by the companies, have invested more than $336.2 million in Ontario County, creating and retaining more than 6,198 jobs in the local community over a 10-year cumulative period. Doing so means the companies have met 98.6 percent of their total job targets.

Ontario County IDA board members approve projects based on criteria outlined in the county’s overall economic development strategic plan. The plan encourages the growth of — and financial support for — technology companies, agriculture-based enterprises, and tourism-related businesses, among others.

That criteria helps the IDA determine which companies it will assist and ultimately drives economic success in Ontario County, said OCIDA Chairman David Reh.

“The companies selected by OCIDA have met 98.6 percent of their total job target — very high marks considering the economic recession that has plagued our economy since late 2007,” Reh said. “We’re proud that our IDA project companies continue to invest and grow in our community despite the adverse economic conditions we’ve all experienced over the past couple of years.”

In fiscal year 2009, two projects alone accounted for more than $6 million in additional investment in the county. The projects — Bristol Mountain’s installation of a high-speed chair lift and Red Jacket Orchards’ construction of a new juicing facility — also expect to increase employment over the next three years.

All 62 projects are reported as part of OCIDA’s audited annual financial statements for the 2009 fiscal year, which were submitted to the New York State Comptroller’s Office earlier this year, as required by the state’s Public Authorities Reporting Information System, or PARIS.

Five of the projects ended in 2009, putting those companies back on the tax rolls at full-value assessments for the first time in several years. The projects’ combined assessments prior to any IDA assistance totaled $1.92 million. Their combined assessments today now total more than $8.67 million — three and a half times their initial value. In addition, combined employment at the companies increased from 161 to 270, a nearly 68 percent increase.

OCIDA Executive Director Mike Manikowski noted that the average annual salary for the 62 IDA projects in 2009 was $52,320 — 86 percent higher than the median income per worker in Ontario County, which totals $28,085, according to U.S. Census data.

“The IDA is proud to support the creation and retention of high-quality, good-paying jobs throughout Ontario County,” he said. “As the recession ends, we truly hope that 2010 proves to be an even better year for our companies and the entire local and regional economy.”

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