One month after selling its 300th share, the threshold needed to begin the skier-owned Magic Partnership LLC at Magic Mountain was met. The ski area finished raising the maximum shares allowed for the investment with 333 shares sold at a price of $3,000 each for a total of $999,000. Much of this capital will go toward improving the snowmaking capacity at the 50-year-old ski area.
The final shares came just as Magic was experiencing southern Vermont’s first major snow storm of 2012, which dropped upwards of 18 inches of snow last week.
“Our skier community stepped up at a critical juncture with an eye toward not only keeping this legendary ski area alive, but helping it thrive long into the future,” said Jim Sullivan, president of Magic Mountain. “There’s much work to be done, but when you see the smiles and high-fives of skiers and riders enjoying Magic, even in a winter as challenging as this one, we know that the commitment and effort ahead will be rewarding.”