Ontario County IDA Projects Invest More Than $356 Million,

Creating and Retaining More Than 6,200 Jobs

— In a tough economy, 62 projects met 95 percent of the IDA’s total job target —

CANANDAIGUA, N.Y., July 14, 2009 — The Ontario County Industrial Development Agency (OCIDA) is pleased to report that through fiscal year end 2008, the most recent available, the agency’s 10-year cumulative economic development projects, as reported by the companies, have invested more than $356 million in Ontario County, creating and retaining more than 6,200 jobs in the local community.

“Through the end of fiscal year 2008, Ontario County IDA’s 62 current economic-development projects have invested more than $356 million, creating and retaining 6,237 jobs throughout all of Ontario County,” said Chris Jennings, Chairman of OCIDA. “The figure of 6,237 jobs means that OCIDA’s projects have met 95.2 percent of their total job target. By any measure, 95.2 percent is an excellent grade and, given the prolonged economic recession that we’re experiencing, we’re pleased that our IDA project companies continue to invest in our community year-after-year.”

In fiscal year 2008, the three largest individual projects, by total investment amount, were Greater Canandaigua YMCA for $8.36 million, DeFelice /Finger Lakes Community College Campus for $5.3 million, and Fungus Creek/Eagle Mountain for $1.65 million.

The figures stem from OCIDA’s audited annual financial statements for the 2008 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.

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OCIDA Executive Director Mike Manikowski said the agency is fully complying with the Comptroller’s Office, including providing targeted job-creation and job-retention numbers, in addition to companies’ volunteered estimated salaries and total project investment amounts. He added that 20 of the 62 projects are still within their first three years of operation, meaning they have ample time to increase their actual job-creation and job-retention numbers and potentially meet or exceed their job targets.

In addition, Manikowski noted that the average annual salary for the various IDA projects in 2008 was $50,070 — almost double the median income for workers in Ontario County, which totals $26,390, according to U.S. Census data.

Several of OCIDA’s projects represent “civic-facility” investments, which provide access to low-cost financing for area non-profits. Civic-facility legislation has benefited a number of local non-profits, such as Thompson Hospital, the Collegiate Housing Foundation, and the Happiness House/Finger Lakes United Cerebral Palsy, Inc.

State legislation allowing IDAs to finance civic facilities expired in January 2008 and the legislation making IDA civic-facility authority permanent is currently under debate in the New York State Legislature. According to the New York State Economic Development Council, approximately $2.1 billion in non-profit expansion projects, including a $10 million healthy system expansion in Ontario County, is on hold until the legislation is renewed.

“Right now, the legislation to make IDA civic-facility authority permanent — sponsored by Assemblyman Joe Morelle of Irondequoit and State Senator Bill Stachowski of Buffalo — is being held up by separate legislation that would require all IDA project companies to pay prevailing wages on construction and a median wage of $15.42/hour to all employees, regardless of skill set, for 15 years,” Manikowski said.  “We urge the state Legislature to do what’s right.  Small companies and non-profit organizations will have trouble expanding with these wage mandates. Not all companies and projects are created equal and should be treated as such.  Support the Morelle/Stachowski bills allowing IDAs to finance worthwhile non-profit projects.”

For more information about OCIDA, please call 585-396-4460 or visit www.co.ontario.ny.us.

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