Ogdensburg Bridge and Port Authority approves 10-year agreement with duty free store
OGDENSBURG -- The Ogdensburg Bridge and Port Authority has approved s a new 10-year agreement valued over $1.9 million with Duty Free Americas, the firm operating a duty free store on the U.S. side of the Ogdensburg-Prescott International Bridge.
Duty Free Americas Chairman Simon Falic said he was pleased with the new agreement, and hat he looks forward “to working with the Greater Ogdensburg Chamber of Commerce in their initiatives to help spur economic growth in the region.”With the increase in the value of Canadian currency over the past several years, the Ogdensburg-Prescott International Bridge has seen a 43 percent increase in traffic over five years, resulting in increased business for the duty free store as over 700,000 vehicles use the bridge each year. That trend is projected to continue, according to Authority officials.
The 10-year term will see the duty free store continuing its operations in Ogdensburg while investing in its facility and new signage to promote the store to customers using the international crossing.
“Duty Free Americas is an important business at the Ogdensburg-Prescott International Bridge which encourages more crossings” said the Authority’s Director of Commercial and Industrial Development John A. Rishe.
“We are pleased to have reached a long-term lease agreement with Duty Free Americas” said OBPA Executive Director Wade A. Davis. “Bridge traffic has increased substantially over the past few years and we are optimistic that the trend will continue benefiting the regional economy.”