| Announcing EDCO's 14th Annual Luncheon - January 22, 2010 - "Economics without Equivocation" |
EDCO is excited to bring back the Institute for Trend Research (ITR), the oldest continuously operating privately-held economic consulting firm in the U.S. You can look forward to a presentation that is relevant to your future business decisions, engaging, incisive, and yes, entertaining.
The Institute has an enviable 96% accuracy rate for forecasts six quarters out, drawing upon 47 proprietary indices and industry-specific research. ITR's perspective is that the business cycle is king while monetary and fiscal policy play a secondary role. Those who heard principal Alan Beaulieu two years ago will recall ITR's prognosis for a prolonged and deep recession, including a stock market correction - a viewpoint which differed greatly from mainstream economists, including the Fed.
Mark your calendar now with the details below or, better still, contact Dayna (541-388-3236) to reserve a corporate table or seats. These tickets and tables go quickly, so reserve early.
Friday, January 22, 2010
11:30am -1:30pm (registration begins at 11:15 am)
The Riverhouse Convention Center
$50 for EDCO Members | $65 for non-members | Lunch provided
Send us your economic questions in advance
Alan's presentation will cover the topics below. We’d like to invite our readers to submit questions during the month of December. Send your questions to Dayna and we’ll incorporate them into the presentation. As is EDCO's tradition, the presentation will also be made available on our website for later reference.
- Short-term and long-term economic forecasts (U.S. and abroad).
- How those forecasts directly impact your company.
- How ITR's business cycle evaluation applies to your company at this time.
- What leading economic indicators we should be watching.
- A prognosis on inflation and interest rates.
- How China and India's growth impacts the US.
- What impact the current Administration has on the economy.
- How much weight we should attach to the stock market.
With everything happening in December, we will not hold a regularly scheduled PubTalk.
Instead, join us on January 21, 2010 at McMenamins for keynote speaker Ann Bunnenberg, Ph.D., JD, and President of Electrical Geodesics, Inc. (EGI) of Eugene. EGI is the leading developer and manufacturer of dense array EEG systems for medicine, neurosurgery, and neuroscience research worldwide. We call this serious brain food!
For those unable to attend November’s PubTalk, we can’t resist sharing the exciting local venture launched by our early stage presenter Linda Naerheim. Bend-based Elements Naturals makes completely natural baby wipes that compost within 180 days and already has distribution into Whole Foods and Ray’s. The company is seeking $500,000 in equity capital to gain entry into 1000+ retail stores. Seventy percent will be used for production of product to meet market demands that are expected to reach $1.2 million in the second year. The balance will be used to hire key personnel, retain an interim operations consultant, cover sales brokers’ fees, and increase marketing & PR efforts. This week, Linda shared with us that Elements Naturals has secured another national sales account with One Step Ahead, parent company Chelsea & Scott, Ltd. Visit the Elements Naturals website or contact Linda directly if you have interest in this venture.
| Business News in Central Oregon |
Critical Dec 31 date approaches -- do you have a conference suggestion for VisitBend?
Are you a member of a regional or national organization that hosts meetings, conferences or conventions? If so, you could be enormously helpful in bringing your group to Bend and qualify for a $5,000 donation. Visit Bend reminds us that the event can be a tournament, conference, or weekend getaway. It does need to bring in a minimum of 300 room nights to Bend and your group must book or issue a letter of intent to before December 31, 2009 in order to qualify for the $5,000. EDCO contends there's not better way to expose business owners and prospective companies to the extraordinary quality of life we enjoy here in Central Oregon. Check out complete details of the My Group promotion.
First signs of a recovery?
Back in June, EDCO presented the findings of two contrarian independent think tanks, the Institute for Trend Research (ITR) and the Economic Cycle Research Institute (ERCI), both which were predicting in early 2009 an official end to the recession this past summer. Today, there is growing consensus among economists that the conclusion to the “Great Recession” most likely happened in the second quarter, but those same forecasters are now warning that recovery will be slow and jobless for some time to come. ECRI, meanwhile, is calling for a classic “V” shaped recovery that has at least started more robustly than in the past two decades.
On a micro scale, EDCO is seeing some reasons for optimism from area manufacturers and other traded-sector companies. More than a dozen local employers have added jobs in the past quarter including Atrec.com, T-Mobile, MediSISS, PV Powered, PV Trackers, Ameritech Machine, Fidelius Arms, Nosler, G5 Search Marketing, Leading Edge Aviation, American Licorice, GL Suite, and VocalBooth.com. Even companies hardest-hit by the economic downturn in building products are seeing some revived demand. The proprietary leading economic indicators for both ITR and ECRI are pointing to a jump in industrial and manufacturing production. Both also stress that the upward trend has much more to do with the business cycle than with federal fiscal or monetary policy.
The unknown for the next quarters ahead are consumers. Many are still feeling stung by the downturn while others find themselves among the un and under-employed. If preliminary holiday spending numbers are any indicator, consumer spending is starting to stabilize and even grow, albeit well below levels from three years ago. For more information about the two contrarian and remarkably accurate forecasting organizations, visit ITR and ECRI.
Passage of COCC bond measure could change Open Campus Project in Prineville
For over a year now, Crook County, COCC, and OSU leaders have been collaborating on ways to bring higher education to Prineville. The Open Campus Project is a state pilot program launched in Tillamook and Crook Counties, with the goal of offering four-year degree programs and other educational opportunities in rural areas. Originally, the idea was to have COCC and OSU offer a variety of classes and programs in one building. Funding is supposed to come from the state, but money for the project has yet to be identified.
Since COCC’s bond measure passed in November, which includes a legal requirement to build a facility in Prineville, the questions becomes: will there be two campuses in Prineville. Matt McCoy with COCC says that’s not likely. While he says it’s too early to tell what will happen, he says the most likely scenario would have the Open Campus operate out of a COCC’s proposed campus center in Prineville. A committee of local leaders continues to work on the effort, with hopes of offering classes by in 2010 – even without a building in place.
Jefferson County evaluates educational needs with COCC, OSU-Cascades
With the COCC Bond measure passing and funds allocated to building a Madras Campus for COCC, EDCO-Jefferson County has initiated an Education Council to conduct a needs analysis for enhanced education courses needed by businesses and residents of Jefferson County. The council is working closely with Teresa Hogue, Director of Oregon Open Campus (OSU-Extension), and their pilot program, as well as Carol Moorehead, Dean of Continuing Education at COCC, to conduct, compile and evaluate this needs assessment. The audit will be conducted in December and based on the input a number of enhanced education courses may be launched as early as 2010 utilizing temporary facilities.
A separate revised grant request was made to EDA for additional funds for the Madras Campus with a matching grant from Jefferson County. If the grant request is funded, it may enable the construction of a larger facility (17,000+ sf vs. 10,000 sf) which would be operational by September 2011. Land has been donated by the Bean Foundation in Madras with the condition of a minimum 8,500 sf building per each 15 acres, with a total of 47 acres allocated for the Madras COCC Campus.
Developers slated for extension in Prineville
Tough economic times have led the Prineville City Council to offer extensions for developers whose projects have been slowed or stalled. Typically, developers are required to begin work on their property within a year, or file an extension. Only two, one-year extensions are currently allowed within the city’s ordinance. The new proposal gives the council the ability to offer a third extension on a case-by-case basis A few basic conditions are required to be shown: general economic hardship, all outstanding fees paid, plans brought up to date, and some demonstration of trying to proceed. The council is expected to make a final decision on the change at its December 12 meeting.
New “Employment” zone in Redmond nears key Dec 8 vote
In the Tuesday November 17 City Council meeting, Council heard a formal recommendation by the Planning Commission to adopt the new Mixed Use Employment Zone (MUE). As part of the public process, Councilor Jay Patrick opened public hearing as a number of citizens, developers, and property owners were on hand to give their views. The proposed zone is intended for the development of employment centers developed as campus-type or light industrial with some limited commercial and residential development.
Although there was no opposition heard regarding the MUE zone or designating property on Redmond’s west side, a number of people were concerned about locating it too close to Helmholtz and US 126. Several attendees preferred that area to have a Commercial Zone designation to provide additional retail and commercial centers near gateways leading in and out of Redmond. There was also discussion and recommendation by the council to look at smaller minimum size requirements for the MUE zone, which is currently 100 acres. When it came down to a vote on Tuesday, council voted to hear the first and second reading of the amendment; however, the motion to approve the Zone failed due to the need for a unanimous approval at this stage of city process. Council will again hear the zone amendment on December 8 and, if moved and seconded, will vote again, this time only requiring approval by a majority vote. REDI Manager, Jon Stark shared “the zone would help offset some of the traffic congestion moving through the City by providing opportunities for gainful employment to the west and will make Redmond a more desirable place to live by providing diversification from our current typical neighborhoods.” Learn more about the specifics of the MUE zone
Central Oregon benefits from Qwest fiber deployments
At the beginning of 2008, Qwest picked Bend as one of four markets in Oregon and one of 23 across the company’s entire service territory to receive a series of new neighborhood-based fiber deployments to significantly boost the Internet speeds available to residents and businesses. Nearly two years in, more than half of Qwest’s residential customers in Bend have access to the faster speeds, which are triple the speeds previously offered, according to Qwest Oregon President Judy Peppler. “These deployments have added significantly to our already robust network and product offerings in Central Oregon,” Peppler said. "The investments will continue and the faster speeds will be available to more customers in coming months."
The faster Internet speeds for residential customers comes as Qwest continues adding capacity to its network for businesses and government agencies that require large amounts of bandwidth. Direct fiber connections to businesses allow speeds up to 9.9 gigabits per second, according to Qwest, which also serves Central Oregon with a “self-healing” fiber ring that provides backup routes to keep the region from becoming isolated from the outside world during service outages. “Central Oregon continues to be a very important market for Qwest and I'm pleased we've been able to make these additional investments in our network here,” Peppler said.
Tompkins HR Group releases State of the Region benefits recap
In making decisions about benefits and compensation, employers often contend with incomplete information. Tompkins HR Group has just completed the analysis of their first Central Oregon Benefits Survey. With input from nearly 200 regional organizations, the survey offers employers valuable insight into whether benefits practices are competitive. Interested organizations may download an order sheet (costs are $45.00 for participating companies and $95.00 for nonparticipating companies), contact Deborah Tompkins or visit www.tompkinshrgroup.com and click on the bottom-shelf book titled “Surveys.” The survey recap addresses topics such as:
- Which benefits (traditional and nontraditional) Central Oregon companies are providing
- How benefits vary by company size and other factors
- Changes companies have made because of economy
- Opportunities realized in the current economy.
SCORE looks for volunteers
SCORE, Counselors To America’s Small Businesses: is launching a support campaign aimed at existing small businesses that are anticipating the beginnings of a business recovery in 2010. To meet expected requests for help, we need to add additional counselors who will be assigned within their areas or expertise to companies or individuals as they request our help. If you have business expertise, and even a limited amount of time to offer, contact Score at 541-923-8615 leaving a contact name and number, or email chapter chairman Bill Saling.
| Central Oregon in the News |
G5 Search Marketing receives national press
In an article entitle “Free $$$ for entrepreneurs,” CNN Money shows how six businesses landed grants that allow them to launch and expand. Fast growing G5 Search Marketing was spotlighted for securing training funds for traded sector companies - those that hire locally but generate their revenues primarily from outside the area. The grant defrays $1500 in training expense for every new hire and helps G5 make local hires. CEO Dan Hobin says "We're a fast-growing small company in a competitive space, and this grant allows us to hire a bit faster, because we have more cash to work with. The faster we get good people hired and trained, the better we are able to compete."
Clear Catheter Systems receives major international innovation award
Clear Catheter Systems, a private medical device company that is pioneering proprietary medical catheter anti-occlusion technologies, was awarded the prestigious 2009 EACTS Techno-College Innovation Award for its PleuraFlow Active Tube Clearance System. The award is a worldwide competition to identify innovations that have the potential to change the standard of care in heart and lung surgery. The award was established by the European Association of Cardio-Thoracic Surgery (EACTS) to recognize the most important technological breakthrough related to thoracic and cardiovascular surgery. The award was announced at the Annual Techno-College meeting in Vienna, Austria, on October 17, 2009 in front of an audience of leading cardiovascular and thoracic surgeons from around the world.
Sisters Featured as Top 100 Adventure Town in U.S
New York –based National Geographic Adventure Magazine has selected Sisters as one of the “Top 100 Adventure Towns” in the United States according to the Sisters Chamber. Despite a cow town image, National Geographic calls Sisters “a mecca of hiking, rafting, road-cycling, and mountain-biking in the summer and skiing in the winter.” In their ‘state-by-state guide to top outdoor hubs in the country,’ the Magazine also highlights Portland, Hood River and Klamath Falls in Oregon. Erin Borla, executive director of the Sisters Area Chamber of Commerce, commented “…a down economy forces us to explore all of our options – and our own spectacular backyard has never looked better.” Check out National Geographic’state-by-state guide to outdoor hubs and the interactive map of all 100 towns.
EDCO recruit MiniMachine named one of nation's 10 best machine shops
Bend-based manufacturer MiniMachine, Inc. just received notice that in November American Machinist Magazine judged their operation to be one of the 10 best machine shops in the U.S. in an article entitled "Taking Measured Risks, One Step at a Time." In 2002, EDCO recruited the small but growing operation from Santa Clara, recognizing their reputation for precision and quality. As a contract manufacturer, MiniMachine makes components for “parts with holes anywhere from 0.005 to 0.035 in. in diameter — or roughly as thick as a human hair.” In the article Mike Rosenboom shares how he and his team relish taking on the toughest of machining challenges. The now 10-person operation specializes in medical, government, communications, and military components.
| EDCO looks at the next three years |
EDCO strategic planning process the focus of fall meetings
With 2009 coming rapidly to an end, the EDCO Board of Directors and staff have dedicated a majority of the past four Board meetings to update its strategic plan. The new plan will guide the activities and efforts of the organization EDCO for the next three years. Early in the process, the Board decided that wholesale changes were not needed, rather a thorough update of the current plan, which was developed during much different economic times in the latter half of 2006.
For perspective, EDCO leadership is looking at a broad range of perspectives including U of O economist Tim Duy; chief economist for the Milken Institute Dr. Ross DeVol, the Institute for Trends Research (ITR) and other thought leaders both on the business cycle and economic development strategy. DeVol was the keynote speaker in March for EDCO’s Annual Luncheon, Duy presented at the EDCO Annual Meeting in July and ITR principal Alan Beaulieu is the scheduled keynote for the 2010 Annual Luncheon on January 22.
On October 8, the Board held an Economic Development Planning Summit in Redmond to solicit priorities, opportunities and challenges from leaders across the tri-county area. This event was followed by a half-day retreat on November 12 to synthesize this information and other intelligence from the previous events and translate those into revision of the current plan. Review and discussion of the draft 2010-12 Strategic Plan is scheduled for the December 10 Board Meeting.
Modifications to the current plan will include a few new goals, expanded industry targets, a modified mission statement and possible changes to the vision statement. Click here to view the current 2007-09 Strategic Plan.
| Upcoming Events in Central Oregon |
Dec 8 - Talk of the Town re: Tax Measures 66 & 67
Tax Measures 66 & 67 (which would raise individual personal taxes and corporate taxes, respectively) are the focus of of the next COTV-11 Talk of the Town. Jamie Christman and Dave Jones will be asking critical questions, such as: Which businesses would pay more taxes under Measure 67? With Measure 66, if approved, which individuals would pay more on their personal income taxes and which would get a tax break? The televised forum is at Cascades Theatrical Company, 6:30 - 8:00 pm, at 148 NW Greenwood Avenue in Bend. Click here to RVSP or call 541-388-5814.
Dec 8 - The Network of Entrepreneurial Women
Women entrepreneurs are getting together at 6:00 pm at Hollinshead Barn in Bend. The evening includes heavy hors d'oeuvres, a no-host bar, photos, music and dancing, raffle drawings and a giving tree. Space is limited and tickets $25. All proceeds from the event will benefit Healing Reins Therapeutic Riding Center. Call Terry Robertson at 541-788-8293 or visit www.networkwomen.org.
Jan 4 - OSU-Cascades offers course in sustainable communities
The natural resources program at Oregon State University – Cascades Campus invites community members to participate in a course that addresses the interrelationships between social, political, economic, and ecological systems, and the balance of those systems within a community. Faculty from multiple academic disciplines, including business, liberal arts, natural resources, tourism and outdoor leadership, and human development and family sciences, will teach the course alongside experts from the community including Bruce Sullivan of Earth Advantage, Tucker Roberti of PV Powered, and Kate Fitzpatrick of the Deschutes River Conservancy. The course will be led by Matt Shinderman of OSU-Cascades’ natural resources program and can be audited or taken for academic credit. The course meets Tuesday and Thursdays, 1:00 - 2:20 pm beginning January 4. For registration information, e-mail info@osucascades.edu or call 541-322-3100.
Starts Jan 2010 – COCC’s Small Business Management Program
Looking for long-term, hands-on business assistance? Is your company in need of an objective eye and a professional, sympathetic ear? Take advantage of our year-long Small Business Management (SBM) course. You’ll receive monthly individual on-site business advising customized to your needs along with a comprehensive selection of monthly classroom topics. SBM is designed to guide you towards achieving your business goals through better organization, management and operation of your business. Confidential advising gives you an ongoing analysis of your business and helps you implement a sound plan for growth and greater profits. The classes cover critical business topics that will enhance your entrepreneurial skills and increase your ability to establish and maintain effective management procedures.
Don’t miss this unique combination of practical instruction in business management techniques with one-on-one counseling at your place of business. The program is open to a limited number of companies with at least one year of operation and one full-time employee. Class starts January 5th. See more information or call the COCC Business Development Center 541-383-7290.
Jan date to be announced - OMEP Lean /Clean Manufacturing
Join the Oregon Manufacturing Extension Partnership (OMEP) for a seminar on Lean / Clean Manufacturing - a new, expanded Lean technology highly effective in increasing energy efficiency and advancing sustainable manufacturing practices. The seminar will include an overview of Lean / Clean methods and provide documented results from pilot projects conducted by OMEP at various Oregon companies. These companies are among the rapidly growing number of manufacturers - nationally and internationally - implementing this next step in Lean. Learn how its enhanced production efficiencies and cost savings can ensure you don't leave money on the table! The seminar is funded by the Oregon Manufacturing Workforce Strategy project and will be held at the COCC Redmond Campus Building 3. For more information and to RSVP to Kleve Kee or call 541-350-7429.
Central Oregon companies provide testimony to Senate Sub-committee on Commerce & Workforce Development
On November 19th, nine local business leaders gathered at OSU Cascades in provide a business perspective to legislators on the Senate Sub-committee on Commerce & Workforce Development. Bend Senator Chris Telfer, who co-chairs the sub-committee, asked EDCO to help reach out to area businesses to attend and provide their feedback on how state government was helping or hindering their ability to stay in business or grow.
Several attending the hearing recommended support for the Oregon Extension Manufacturing Partnership (OMEP) for Lean manufacturing training and production efficiency. CEOs of some of the same companies found the Work Share program very helpful in retaining key talent on their teams by employers and employees “sharing the pain” with the result of less burden on state and federal assistance programs. Bend Chamber Executive Director relayed a number of comments received from members about Oregon’s tax and regulatory environment that was less than friendly to businesses, citing a bump in the personal income tax rate as a step in the wrong direction. To listen to the complete hearing, click here.
Karnopp Petersen provides employment law update
Karnopp Petersen LLP offers an informative round-up of news and resources concerning some of the more significant state and federal employment law developments that recently made it into law, including:
COBRA Changes: The American Recovery and Reinvestment Act of 2009 recently changed how COBRA coverage is offered to individuals who lose group health plan coverage due to an involuntary termination or reduction of hours from September 1, 2008 to December 31, 2009. Some employers will have to cover 65 percent of the employee’s premium, but are entitled to a refundable credit toward payroll taxes. Call your employment lawyer for more information, download new model notices, or read the Department of Labor's new questions and answers on COBRA.
Medical Leave Laws: Oregon’s Bureau of Labor and Industries is still looking at regulatory changes to the Oregon Family Leave Act (OFLA), in light of the recently-revised federal Family and Medical Leave Act (FMLA). In the meantime, are you staying on top of the differences between OFLA and the newly-enacted FMLA regulations? Check out BOLI’s OFLA/FMLA comparison chart , as well as its brief on implementing OFLA in light of the new FMLA rules.
Remember Ledbetter: The Lilly Ledbetter Fair Pay Act of 2009 significantly expands the potential scope of employee wage discrimination claims. For more details on the change and what to do next, check out this recent article from Karnopp Petersen’s own Jon Napier.
BOLI Loosens Up on Lunch: On January 12, 2009, the Oregon Bureau of Labor and Industries (BOLI) issued a new rule, clarifying some exceptions to the otherwise-required 30-minute meal period. While the basic requirements for meal periods remain unchanged, the new rule clarifies exceptions including unforeseeable circumstances, such as equipment failures; the situation where relieving an employee of all duties would impose an “undue hardship” on the operation of the business; and more. For more details, check out BOLI’s press release on the new regulations, or see your employment lawyer.
PREP Profile Systems, Inc. has successfully launched the newest version of their professional website. JoAn Mann, President & CEO, shares that the new site will help organizations, teams and consultants use their simple personality profiling program more effectively. The website details how the company's CORE tool is integrated into evaluating, developing, coaching, and managing people and teams.
We'd also like to take this opportunity to thank PREP Profiles and McDonald Placement Group for their in-kind contributions to help with EDCO's recent professional search for the Venture Catalyst Manager.
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