Kicking Horse Resort expansion supports growth in Golden

The Province of British Columbia has approved a new master development agreement for Kicking Horse Mountain Resort, supporting continued economic development in Golden and helping Kicking Horse Mountain Resort become one of the premier resorts in the Canadian Rockies.

Following the January, 2010, approval of the master plan, this approval of the master development agreement is the final step in the provincial approval process. The 40-year plan includes expanded accommodation and commercial development, 20,000 bed units, an 18-hole signature golf course, a multi-use trail system with 11 proposed lifts and 1,695 hectares (4,188 acres) of skiable terrain.

Quotes:

Minister of Natural Resource Operations -

“This is exactly the kind of development we want to encourage in B.C.,” said Steve Thomson, Minister of Natural Resource Operations. “Kicking Horse Mountain Resort showcases the beauty of our natural resources while supporting the local community. I know Golden will benefit from all the opportunities that will come out of this expansion – from new tourism operators to contractors.”

Kicking Horse Mountain Resort President and CEO -

“This news from the Province is a great way to celebrate our ten-year anniversary and as we look forward to the next ten years we will continue to be a major economic contributor to our community and the Province’s tourism growth strategy,” said Steve Paccagnan, president and CEO of Kicking Horse Mountain Resort.

Mayor of Golden -

“The Kicking Horse Mountain Resort is a cornerstone of Golden’s economic development,” explained Mayor Christina Benty. “Its presence in our community supports the success of local businesses and puts us on the map as a world-class ski destination. This expansion will bring more visitors to Golden and more jobs for our residents.”

Kinbasket CEO -

“The Kicking Horse Resort project is a great example of positive, co-operative efforts of the Province of B.C. and private-sector industry working with First Nations in their traditional territory. This project has been instrumental in developing a very positive and progressive relationship that has resulted in a strong economic outcome for everyone,” said Kinbasket CEO Dean Martin. “We should all be very proud of what has been achieved. I know we are! Shuswap looks forward to working in the same manner on future projects.”

Key Facts:

· The expansion is 413 hectares, making the total footprint of the resort 2,109 hectares.

· When completed, there will be 20,000 new bed units at the resort.

· Since its inception in December 2000, Kicking Horse has invested over $100 million in the resort, stimulating an additional $100 million of investment in the local economy.

· At full build-out, the resort estimates total capital investment will be over $5 billion.

· In referendum, the town of Golden voted 94 per cent in favour of the initial resort development.

Kicking Horse Mountain Resort

The Kicking Horse Mountain Resort is one of B.C.’s premier, mountain resorts, and one of the first new resort projects in Canada in the past 25 years. Kicking Horse Mountain Resort is a key driver of economic development in the region, supporting a total of 320 full- and part-time jobs in the region and providing millions in direct spending to the local economy.