Hood River outpaces the state

| Print |  Email
Articles - November 2011
Wednesday, October 19, 2011

By Abby Christopher

 

1111_HoodRiver_01
The Hood River Waterfront Business Park: A new building for Hood Technology is being constructed and a headquarters for Turtle Island Foods is being developed. Both will open in 2012.

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.

 



 

More Articles

4 highlights of the MLS labor deal

The Latest
Wednesday, March 04, 2015
timbersthumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

On Wednesday night, a couple days ahead of the 2015 season kickoff, Major League Soccer and the Players Union reached an agreement.


Read more...

5 questions for inDinero CEO Jessica Mah

The Latest
Tuesday, March 31, 2015
jessicathumbBY JACOB PALMER | DIGITAL NEWS EDITOR

inDinero, a business that manages back-office accounting for startups and smaller companies, recently announced it would relocate its headquarters from San Francisco to Portland. We talked to CEO Jessica Mah about what drew her to Portland and how she plans to disrupt the traditional CPA model.


Read more...

Car Talk

April 2015
Thursday, March 26, 2015
BY LINDA BAKER

Everyone knows cell phones and driving are a lethal combination. The risk is especially high for teenage drivers, whose delusions of immortality pose such a threat to us all. Enforcement alas, remains feeble; more promising are pedagogical approaches aimed at getting people to focus on the road, not their devices.


Read more...

Are wolves good for business?

Contributed Blogs
Friday, March 06, 2015
030615-wolf-thumbBY JEFF DELKIN | OP-ED CONTRIBUTOR

As a local business owner, I believe it’s important to build our economy on a platform of conservation values.  


Read more...

City announces plans for Portland summer-league baseball team

News
Tuesday, March 10, 2015
IMG 3888BY JACOB PALMER | OB DIGITAL NEWS EDITOR

Baseball is returning to Portland and city officials are hoping economic opportunity comes with it.


Read more...

6 highlights from the Craft Brewers Conference

The Latest
Friday, April 17, 2015
thumbPHOTOS BY  JASON E. KAPLAN

The 32nd annual CBC attracted a record number of attendees (11,000)  to the Oregon Convention Center.


Read more...

Photos from the 100 Best Companies to Work For in Oregon awards celebration

The Latest
Friday, February 27, 2015
IMG 9975cneditPHOTOS BY JASON E. KAPLAN

Images from the 2015 celebration of Oregon's great workplaces.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS