On January 31, 2020, Arctaris Impact Investors took a big leap and made an investment in the future of the Western Maine region. Saddleback had been dormant for 5 long years and was at the tipping point of being closed forever. Arctaris purchased the ski area and brought Saddleback back to life.
- 4 new lifts (High Speed Quad, Fixed Grip Quad, T-Bar and Carpet lifts)
- Significant snowmaking upgrades
- Revitalized base lodge
- Construction of The Nest: New England’s highest altitude restaurant and event space
- New real estate condo developments
But the investment was always about more than just the ski area. Arctaris, through its impact fund & partners, is committed to revitalizing the Western Maine region. Using a sustainable ski area at the core, Arctaris is also focused on:
- Building a 70 bed year-round workforce housing available to Saddleback employees and employees of other businesses in the region
- Providing 240+ annual jobs
- Enabling the construction of a 7.5 Megawatt solar farm providing sustainable energy
- Partnering with Rangeley schools to provide free Ski-Tuesday program and significantly discounted season passes to enrolled students
- Supplying critical technical support to acquire grants to fund the construction of the Rangeley Childcare Center
Over $42 million dollars has been invested to date making a major impact on the Rangeley region. You can read the full impact report at this URL.
Running a ski area is hard. Managing significant growth while keeping the qualities that make Saddleback and the Rangeley region so special is difficult. Much work has been done. Much to be proud of. Much more work to do. We at MaineSkiFamily are very thankful for everyone that is leaning in to take on this challenge to make a positive impact. We look forward to what the future holds!
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