|| Print ||
|Articles - November 2011|
|Wednesday, October 19, 2011|
Page 1 of 2
By Abby Christopher
At a time when the economies of many Oregon cities and towns are fragile and shrinking, Hood River is enjoying slow and steady growth. Hood Technology and Turtle Island Foods, both small privately held businesses already established in the City of Hood River, have invested more than $14.4 million combined to develop light industrial plant and offices for their businesses in the Port of Hood River’s Waterfront Business Park.
In September, Hood Tech moved some of its employees into its new 40,000-square-foot digs at the waterfront. Construction at Turtle Island’s new 33,000-square-foot property will be completed by next summer, according to property developer Jeff Pickhardt of Key Development. Key Development and Naito Development have announced 2012-2013 plans for new construction and renovation in the port as well, including mixed-use office buildings and retail businesses.
While the state reported a 9.6% unemployment rate in August, Hood River County was at 7.2%. And according to state economic analyst Josh Lehner, over the past two years employment in Hood River has consistently been 1.6-2.9 percentage points ahead of the state overall.
Hood Tech is expected to add approximately 20 jobs to its staff, which can range from 75 to 150 depending on production needs, according to president and founder Andy von Flowtow. Hood Tech makes sensors for drones used by the military. One of its key markets, unmanned aerial vehicle systems’ optical/infared sensors, is expected to grow from $813 million in 2011 to $1.7 billion in 2020, according to defense industry researchers The Teal Group.
Turtle Island will grow from 73 to about 100 employees by 2014. According to Seth Tibbott, founder and president of Turtle Island, the company is staffing the full spectrum from administration, accounting and production to management. Tibbott says that the company revenue is expected to grow 25% to $22 million for the fiscal year ending 2011, and to $27 million for 2012.
Neither Turtle Island (makers of Tofurky) nor Hood Tech is expected to pay taxes for at least the first three years in their new waterfront properties. Both have applied for tax waivers on plant and equipment via the Cascade Locks-Hood River Enterprise Zone. Hood Tech has applied for a five-year tax waiver on plant and equipment. If granted, the waiver would give the company three tax-free years and allow the company to pay reduced taxes in future years. As of early October, Hood Tech’s estimated investment in plant and equipment in its new waterfront building was $4.4 million, although the company is still doing some construction and may also add more equipment.
Turtle Island, which has invested roughly $10 million in plant and equipment, is in the process of applying for a three- to five-year tax waiver as well. As part of their individual enterprise zone agreements, Turtle Island and Hood Tech may make “in lieu of” payments to the city and Hood River County and to the Urban Renewal District.
|The more they change, the more they stay the same|
|The 2014 List: The Top 33 Large Companies to Work, For in Oregon|
|The 2014 List: The Top 34 Medium Companies to Work, For in Oregon|
|The 2014 List: The Top 33 Small Companies to Work, For in Oregon|
|The future of money|
|Cerberus Capital to buy Safeway|
|U.S. adds 175,000 jobs|
|Bitcoin creator revealed|
|Staples closing 225 stores|
|EU to offer aid package to Ukraine|
|Daily sugar intake 'should be halved'|
|White House reveals 2015 budget|
Living in the beautiful Pacific Northwest means enjoying our wonderful surroundings, while remaining aware of the multiple types of natural disaster threats that we face: winter storms, windstorms, floods, landslides, earthquakes, volcanoes and tsunamis.“
Oregon State University's hospitality degree program invests in next-generation leaders.
Allowing individuals to access their own healthcare options has created more difficulty instead of making things easier. There are so many examples that illustrate why agents are more important than ever in helping businesses and individuals determine the healthcare coverage that best fits their need.
The 2014 World Trademark Review 1000 (“WTR”) recently named Lane Powell as one of the top trademark law firms in Oregon and Washington, and Lane Powell attorneys Kenneth R. Davis II, Parna A. Mehrbani, Frances M. Jagla and Paul D. Swanson as top individuals in the practice.
Capital Pacific Bank, a Portland-based community bank serving businesses, professionals and nonprofit organizations, today announced that it has earned recognition as a Certified B Corporation by B Lab, a nonprofit organization dedicated to building a community of socially responsible businesses. The bank is one of six financial institutions across the country to achieve B Corp status.
On Thursday, April 3, from 8 a.m. to noon (registration begins at 7:30 a.m.), Lane Powell will team with Oregon Business magazine for a half-day seminar titled “Best Practices For Best Employers™: How to Become One of ‘Oregon’s Best Workplaces’ Starting Today!”