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|Articles - October 2012|
|Monday, September 24, 2012|
Page 3 of 4
Albany: Mill-town transition
This past winter, an entirely new kind of business set up shop in Albany: Seattle-based EnerG2, a green nanotech startup that develops engineered carbon material for energy storage. The company benefits from the presence of Albany’s wood-products companies, which supply raw materials used in manufacturing, says plant manager Shaun Mortensen. EnerG2 employs about 25 people and already plans to increase capacity next year.
Albany’s economy is rooted in heavy industry and wood products. But the decline of the timber industry — symbolized by the closure of the International Paper mill in 2009 — has dealt a blow to that identity and the local economy. Over 40% of the jobs lost in Benton County were in wood products. Heavy-metals companies such as Wah Chang have also sustained job losses. Meanwhile, the housing-market collapse undercut Albany’s reputation as a mecca for antiques shoppers. Pre-recession, there were 15 antique stores downtown, says Oscar Hult, executive director of the Downtown Association. “Today there are four.”
Some of Albany’s traditional economic drivers are in decline. But a new generation of businesses is helping offset those losses, building on the city’s core strengths while also diversifying the city’s brand. For example, EnerG2 chose Albany in part because of the city’s reputation as a material-processing center and proximity to Oregon State University in nearby Corvallis. Vice president of manufacturing Phil Souza says the company also collaborates with Oregon Freeze Dry, which is building a new facility focusing on novel freeze-dry pharmaceutical technologies. The plant will employ about 35 people.
New types of businesses are also opening in Albany’s historic downtown, where a decade-old urban-renewal effort has created a mix of charming, renovated historic buildings. Capitalizing on the mid-Willamette Valley craft-brewing craze, Deluxe Brewing Co. and Sinister Distilling will open this fall. Another new establishment is Sweet Red Coffee & Wine Bistro, serving contemporary cuisine such as roasted asparagus with balsamic chili reduction and mushroom fondue. Albany has always been a French fries and bar food kind of town, says owner Cindi Alire. “I want people here to experience something out of their comfort zone.”
Not all downtown real estate is thriving. The WheelHouse, a sleek new waterfront office/restaurant/retail building, was completed in 2010 but, so far, has attracted only one tenant. Law firms, stockbrokers, restaurant owners and other prospective renters are “being cautious and conservative,” says developer David Johnson, who financed the $7 million building by selling a custom-packaging company he founded. Still, he’s optimistic about the future.
Albany is changing; it’s becoming a bedroom community for Corvallis and attracting more people interested in downtown amenities. Besides, says Johnson, pointing to sweeping views of the Willamette, the central core has a precious resource few communities possess. “There are only so many natural waterways,” he says.
Thursday, May 21, 2015
BY JASON NORRIS | GUEST BLOGGER
Uncertainty is a part of doing business, whether in through the lens of investment opportunities and risks or the business of running an enterprise.
Wednesday, July 01, 2015
BY JACOB PALMER | DIGITAL NEWS EDITOR
There are more than 10 million former military members working in the United States.
Friday, May 22, 2015
BY ROBERT MULLIN
Latest development in Nestlé plant saga sparks debate about the value of water.
Tuesday, June 23, 2015
Oregon’s new marijuana law is expected to lead to a bevy of new business opportunities for the state. And not just for growers. Law firms, HR consultants, energy efficiency companies and many others are expected to benefit from the decriminalization of pot, according to panelists at an Oregon Business breakfast meeting on Tuesday.
Tuesday, May 26, 2015
BY LINDA BAKER
Spring rains are the bane of an Oregon cherry farmer’s existence. Even a few sprinkles can crack the fruit so badly it’s not worth picking. Science to the rescue: Researchers at Oregon State University have developed a spray-on film that cuts rain-related cracking in half, potentially saving a season’s crop. The coating, patented as SureSeal, is made from natural chemicals similar to those found in the skins of cherries: cellulose, palm oil-based wax and calcium.
Friday, May 22, 2015
BY ANNIE ELLISON
Portland tech veteran Ben Berry is leaving his post as Portland’s chief technology officer for a full-time role producing unmanned aerial vehicles (UAVs) aimed at first responders and the military. Berry’s AirShip Technologies Group is poised to be on the ground floor of an industry that will supply drones to as many as 100,000 police, fire and emergency agencies nationwide. He reveals the plan for takeoff.
Tuesday, June 09, 2015
The technology at the center of Oregon’s road usage fee reform.
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