Genesee Valley Regional Market Authority recently completed its 66th year of operations, recording $3,352,352 in gross revenues.
Cash operating and administrative expenses represent approximately 25 percent of revenues. GVRMA does not have any debt. Over $1.4 million was paid in property taxes on market buildings and improvements in 2016. It currently leases to 190 companies.
GVRMA owns 80 acres on Scottsville Road. It completed another 14,000 square foot building on-site that is home to Smash It Sports, a baseball and softball equipment retailer.
The market is continuing its capital improvement program. It painted buildings, repaired catch basins, blacktopped 40,000 square feet and sealed 400,000 square feet of parking lots and roads.
GVRMA continues to remain at 100 percent capacity. It has requests for additional space from existing and potential tenants. New tenants on the market include MIA Industries, GM Welding, Quantbridge Capital and Kapic Realty.
The market provided $1,234,550 of support for different agribusinesses, including Ag Workforce Development Council, Lake Ontario Wine Trail, Orleans County Cornell Cooperative Extension, New York Wine and Grape Foundation, New York Wine and Culinary Center, New York Apple Association and New York State Agricultural Experiment Station in Geneva, which is researching hops, hard cider variety development, accelerating production of organic grains and conducting research to support the agricultural economy.
The Market Authority continues to work with the towns of Henrietta and Chili on building permits, building inspections, code enforcement and property development. Insurance costs remain minimal as a result of minimizing claims for over 65 years. The authority operates with four full-time employees.
GVRMA works closely with its auditors from EFPR Group LLP to assist in analysis of financial implications to make informed decisions.
The Market Authority will continue to provide new facilities, combined with the projects already launched in fiscal 2017-18.