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|Sunday, February 01, 2009|
THE CENTRAL QUESTION
What will replace Central Oregon’s collapsed housing-reliant economy? The answer is multifaceted — and hopeful.
BY ABRAHAM HYATT
Welcome to Central Oregon, where the economic news is grim and the bottom is nowhere in sight. It’s no secret why: The one major engine behind the region’s fast-paced growth was the housing boom. When that evaporated, the reverberations slammed through the region, hitting some of the biggest employers, like wood products manufacturing, particularly hard.
“There’s no natural grouping of industries that will propel [a rebound],” he says. “We become too tied up in what specific industries are going to lead us out. What’s more likely is that we’ll bottom out and then our general growth over time will lead us out.”
“They’re going to be small drivers, not like what you see over here in the [Willamette] Valley,” Penwell says. “But these are firms that are still going to be growing from 50 to 150 employees.”
Within the various niche industries, the sporting goods mini cluster — like the high-tech sector — is often mentioned as having a growing role. Jennifer Woods, a senior international trade specialist with the U.S. Commercial Service, lists some of the fastest growing: Metolius Mountain Products (rock climbing equipment), Ruff Wear (outdoor gear for dogs), Greatoutdoors.com (online retail), Kialoa Canoe Paddles, and Entre Prises (climbing walls and handholds). Many of them, she says, are finding work on the international market to balance out what’s happening at home.
Economic growth is only possible if there’s a place for businesses to grow or move into. Over the past several years, Redmond has aggressively expanded its urban growth boundary, which has allowed it to respond to the need for manufacturing-ready land far quicker than its neighbors, Jackson says. That expansion process is crucial for cities, he says, because the enterprise zones that are subsequently created are one of the only tools a city has in attracting and keeping businesses. Prineville and Madras are following in the footsteps of Redmond.
Despite public agencies’ efforts to stimulate growth, the overall economic market sometimes dictates success or failure. The best example of why Central Oregon’s economy will be rebuilt by many different industries instead of one major player lies in the aircraft cluster. The sector was once considered an economic rock star, providing thousands of jobs that ranged from manufacturing planes to making safety and utility equipment for helicopters and airplanes.
Thursday, March 26, 2015
BY KIM MOORE
A conversation with Craig Wanichek, president and CEO of Summit Bank.
Friday, April 17, 2015
PHOTOS BY JASON E. KAPLAN
The 32nd annual CBC attracted a record number of attendees (11,000) to the Oregon Convention Center.
Monday, April 27, 2015
BY AMY MILSHTEIN
Companies can benefit when they use software to meet staffing requirements and address employees' family and life commitments.
Monday, April 27, 2015
BY JACOB PALMER AND EILEEN GARVIN
A power lunch at Solstice Wood Fire Cafe & Bar.
Friday, March 27, 2015
BY ROBERT MULLIN
A new energy-sharing agreement sparks concerns about independence and collaboration in the region's utility industry.
Wednesday, April 15, 2015
BY GARY CONKLING | GUEST BLOGGER
Avoiding a crisis is a great way to burnish your reputation, increase brand loyalty and become a market leader.
Friday, March 27, 2015
BY JACOB PALMER
Five years in the making, the Portland Mercado — the city’s first Latino public market — will celebrate its grand opening April 11. A $3.5 million public-private partnership spearheaded by Hacienda CDC, the market will house 15 to 20 businesses in the food, retail and service sectors. It has some big-name funders, including the Paul G. Allen Family Foundation and JPMorgan Chase. The project goals are equally ambitious: to improve cross-cultural understanding, alleviate poverty and spur community economic development.
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Tourism marketing supports entrepreneurship by attracting visitors to all corners of the state.
Beaverton firm's business intelligence platform rivals that of industry heavyweights.
Earlier this month CEO of Gravity Payments, Dan Price, disrupted the payment inequality discussion worldwide by compassionately raising the minimum salary for each one of his 120 employees to $70k and cutting his $1M salary down to $70k.
Thinking about an MBA? Join us for our upcoming Wine & Cheese Information Session to learn more about Concordia University's MBA program.
Providing attendees with unique taste of the Northwest Reception.