Attention Readers: eCon Update goes bimonthly - We’ve changed our publication schedule to every two months to continue to cover issues in more depth, while keeping our staff focused on recruitment projects. In the economic development world, where many projects are confidential and progress on the strategic front is measured in months, not days, the new publication schedule seems a better fit. We hope what may be lost in freshness will be compensated in substance--but please give us your thoughts about what's working and what isn't. Shoot an email to Ruth Lindley.
| BEND VENTURE CONFERENCE REVS UP FOR OCTOBER 14TH COMPETITION |
Bend Venture Conference (BVC) plans for a dynamic October event - 2011 will bring several exciting changes as the event celebrates its eighth year. In short, BVC will be more investor-driven, a second award for Concept Stage companies is a new addition this year, and the conference itself will be even livelier with short pitches from Concept Stage companies. Learn more on the BVC website.
Investors - June’s Investor Kick-Off meeting doubled attendance from previous years, as BVC prize winning CEOs provided updates on their companies’ growth. Close on the heels of the reception was a series of educational workshops with prospective fund investors, probing what makes successful angel investments. This level of up-front education will allow the conference and selection of the winning companies to be more investor-driven.
Fund management - Steve Westberg, of Westberg Consulting, was named fund manager for 2011, and has met with other conference representatives around the state in an effort to streamline regional angel funds and conference logistics.
Keynote Speaker - We’re pleased to have secured keynote speaker Andy Sack from the acclaimed #1 startup accelerator, TechStars, started in Boulder, CO. Sack is Executive Director of TechStars Seattle, which joins TechStars boot camps in Boulder, Boston and New York. Sack has over 15 years experience running and investing in high tech businesses and is admired for his candor, spot-on advice and mentoring of startups. Read more on the BVC website.
Applications, please - BVC is now accepting applications from both Launch Stage and Concept Stage companies. Concept—or idea—stage companies now have their own pool to compete in! The early bird registration fee for applying companies is $99—but that rate ends August 12th, so don’t delay. More details on how to apply to present at BVC.
Sponsors - Schwabe, Williamson & Wyatt continues their title sponsorship of this premier event and is joined by CPA and business consulting firm Jones & Roth.
Top notch advisory board guides Venture Catalyst - Jim Coonan has created an advisory board to support him in his activities. Two meetings with this group have been held to review changes to the BVC, review a concept paper for entrepreneurial development, and a specific proposal for a Central Oregon Accelerator. Funding support for the elements defined by the concept paper have been proposed to several Oregon-based foundations. The accelerator is a joint venture between EDCO, the Tech Alliance, and the Oregon Entrepreneurs Network (OEN).
Advisory board members are: James Gentes (The Social Business), Justin Rae (Play Outdoors), Eric Tobiason (Morgan Stanley), Drew Child (investor, serial entrepreneur), Scott Larson (Vashon Partners), Roger Lee (EDCO), Dan Hobin (G5), Steve Westberg (LLC Manager), Michael Taus (Codebenders), Peter Ozolin (Manzama), Debbie Parigian (CFO for hire), Dino Vendetti (Formative Ventures), Elicia Putnam (14 Hands Agency) and Dan Eilers (Vanguard Ventures).
Tech migration specialist Alchemy Solutions comes to Bend - The July 19th Alchemy Solutions ribbon cutting adds yet another high tech company expansion, underscoring the important job creation role that small tech companies play in Bend. Alchemy recently purchased an office building and will be adding 13 positions in the next two years as it expands its services to clients migrating from older computer platforms to the Windows environment.
TechSoft 3D names Bend its HQ - AutoCAD partner Tech Soft 3D, coincidentally in the same building as Alchemy Solutions, has plans for worldwide growth, increased revenues and hiring with offices opening in Japan, France and the UK. Positions will also be added in Bend at its newly christened company headquarters. TechSoft provides component technology to the engineering software industry.
Hydro Flask blows competitors out of the water - Early stage company, Hydro Flask has leapt into what most people consider a saturated market and taken it by storm, to the tune of 600% growth in one year. The water bottle maker sets itself apart from competitors by keeping liquids cold and hot through its double wall vacuum insulated stainless steel product. With its phenomenal growth, Hydro Flask has run out of room in its current facility and is adding 5,000 square feet. The company plans to make use of the forgivable loan program, enterprise zone and seek help from Oregon’s export assistance office to explore new international markets.
EDCO and OSU partner to test unmanned aerial systems technology - EDCO’s Unmanned Aerial Systems (UAS) initiative gained a powerful public partner with the signing of a Memorandum of Understanding (MOU) with Oregon State University. The agreement opens up the opportunity for OSU to test equipment for research and development projects that use UAS—forestry, agriculture, snowpack measuring and water quality testing. The addition of a public partner paves the way for testing to begin and is the first stage in attracting UAS companies to Central Oregon. Simultaneously, the Confederated Tribes of Warm Springs is working with EDCO and private companies in the industry to establish testing on their reservation.
HiDEC gains from Energy Trust forum - At its July 27th executive forum at the Deschutes Brewery Mountain Room, the High DesertEnterprise Consortium (HiDEC) featured presentations on Energy Trust incentives and a new production/supply chain management certification program. Interest in the program is strong from local companies that are forming a group to start classes in September. For more information, visit the HiDEC website or call Clint Davis, 503-504-1224.
City and County loan programs vital to economic development - The City of Bend and Deschutes County forgivable loan programs continue to attract applicants; a new brewery, high tech engineering firm and a medical device company are the latest to apply. Most of the awards will be directed to the County which has replenished the fund back to its starting amount of $300,000. The City of Bend fund added $20,000 for the new fiscal year, bringing the fund balance to $26,000.
Two prospective companies kick Redmond’s tires - REDI had two site visits in July from companies who are evaluating Redmond as a potential future location for their operations. One, a small distribution company, is looking for industrial warehouse space; the other, a larger company, is looking to establish a headquarters operation. REDI is in negotiations with two additional projects which, if coupled with selection of Redmond from the site visits, could create as many as 250 jobs.
Redmond to add to ‘shovel ready’ land - The City of Redmond with some assistance from REDI is nearly completed with the process of State Certifying a second parcel of their Desert Rise industrial property in east Redmond. The certification designates the 48 acre site as “shovel ready” for construction within 180 days of sale. The property is competitively priced at $2 to $3 per square foot, and helps Central Oregon compete against other regions that have unencumbered land available for projects on a quick timeline.
Mixed use zone to help Redmond - The Planning Commission will pass its approved recommendation to the Redmond City Council in August to adopt a new Mixed Use Live Work (MULW) zoning standard to be applied to an industrial area east of US 97. The new zoning is meant to help standardize what has been a myriad of uses and spur development to a more urbanized industrial business neighborhood.
Workforce skill testing expands - Oregon’s National Career Readiness Certificate (NCRC) program, which started as a pilot project in Redmond, received good news in the form of sustainable funding for the 2011-12 fiscal year. The program provides foundational skill testing for job seekers, giving employers an additional tool in selecting the right job candidates. The funding will help target an additional 1,200 certificates for Central Oregonians and provide services to 34 additional companies. Learn more about how the NCRC program can benefit your company.
Economic gardening takes root - Businesses in Redmond now have several options when it comes to market research through a new no-cost Economic Gardening program recently brought to the region. Modeled after a successful Littleton, CO program, the Deschutes Public Library, The City of Redmond and the Small Business Development Center (SBDC) at the Community College have each developed programs to provide access to subscription databases typically available only by large corporations. Redmond area businesses of all sizes and stages can now access specialized research providing competitive intelligence on markets, customers and competitors. For more information contact Redmond Economic Development, Inc. at 541-923-5223 or redi@rediinfo.com.
Facebook chooses Prineville for expansion, again – Come October, Facebook will start construction on a second building. The announcement was made public at the July 26th Prineville City Council meeting. The second building is planned for 300,000 sf and will keep hundreds of construction workers onsite for at least another year. An additional 10 full time jobs will be added to the already 54 jobs currently employed in the first data center building. As in the first site selection, Prineville faced stiff competition from other states, including North Carolina where Facebook is building another data center. The announcement solidifies the single largest private investment in one location in our region's history.
HM3 lands USDA grant – A Portland-based biomass company, hoping to build a facility in Prineville, received good news in July. HM3 was awarded a $500,000 land grant through the United States Department of Agriculture, which will help the company reach its financing goal. The company plans to manufacture a biomass substitute that can be used in coal plants to reduce emissions. If HM3 secures the needed funds for the project, it could create over 100 family-wage jobs.
Madras welcomes broadband connectivity - BendBroadband will be bringing high-speed Internet access to Madras by year’s end with a fiber optic ring to enable higher speed connectivity in this rural community. This advanced communication infrastructure will be an important benefit for existing businesses, as well as an important recruiting tool. More below on this story.
Jefferson County likely rock supplier to rebuild eroding Columbia River Jetties – Over 1.1 billion tons of jetty rock will be required to rebuild three jetties at the mouth of the Columbia River, critical to maintain the flow of international trade. At an estimated $470 million, the Columbia River Jetty Rehabilitation project now awaits its first shot of funding from the Federal transportation budget by Congress. Large construction companies are being reviewed for the massive project that is expected to take 18 years, and one contender has studied Jefferson County’s unusual formations of dense basalt rock for the needed supply. If tapped as the supplier, 75 to 100 long-term, family-wage jobs would be created at the quarry. Consent to gravel a half mile stretch of dirt road will need to be obtained from the Bureau of Land Management (BLM) to make the quarry site usable year round.
| KARNOPP PETERSEN CREATES THOUGHT-PROVOKING EXECUTIVE SERIES |
EDCO helps Karnopp launch Business 20/20 Executive Breakfast series
Business 20/20 will bring high caliber business experts to Central Oregon to encourage new ideas, promote professional growth and provide educational opportunities to Central Oregon’s business community. Business 20/20 will challenge public and private community leaders to address complex issues like financing, higher education, regional transportation, and water rights.
“How do you get access to capital?” is the tough topic of the first Business 20/20 session on Friday September 9th, from 7:30 to 9:30 a.m. Financial experts claim money is all too often left on the table, even in tough times, and business owners may not fully understand financing options at each stage of life. This kick-off breakfast will help inform business leaders about opportunities for financing and provide insight into what lenders appreciate when investing. The impressive lineup of experts is:
- Keynote speaker Kanth Gopalpur is a nationally-renowned business speaker and a veteran of three Oregon startups: Monsoon, Powells.com, and Diango’s, where he raised $14 M in venture capital.
- Panelist Dino Vendetti, Managing Partner of Formative Ventures, which focuses primarily on investing in early stage web and mobile companies.
- Panelist James Noonan, Founder and President of Pivot Point Capital Corporation, with considerable private equity experience.
- Panelist Art Hiemstra, SVP Bank of the Cascades (Portland), and advisor to emerging growth companies on debt financing.
- Panelist Jeff Anspach, CEO of the Confederated Tribes of Warm Springs’ Economic Development Corporation and champion of numerous business ventures.
Find more information about the inaugural Business 20/20 event by clicking here.
Central Oregon featured positively in recent media rankings - The saying goes 'What you lose on the merry go round, you pick up on the swings.' That seems to be the case with media rankings. After several years of hitting the downside of lists, we’re now starting to see Central Oregon pop up on the flip side of those same lists. Check out these recent stories:
Business Insider: Bend #2 in Housing in the Next Five Years
Forbes: Bend Ranked #19 of Best Small Places for Business and Careers - Western Cities Dominate Top 25. Looking for opportunity? Head west…
Forbes: Buy Now, Retire Later - For those with cash, Central Oregon is talked about as a newly affordable second home location with price increases expected to occur sooner as opposed to later.
Oregon Business Magazine: Five Local Companies Make ‘Private 150’ List – This annual list of the state’s top privately held companies recognizes Les Schwab (#3), Bright Wood (#64), Deschutes Brewery (#111), Ochoco Lumber (#133), and G5 (#150).
Outdoor Life: Bend is No. 1 for fishing and hunting –the magazine’s exhaustive “Top 200 Towns for Sportsmen” list highlights towns with “excellent and abundant hunting and fishing opportunities nearby, are also great places to raise a family and provide a high quality of life.”
VIA Magazine: Bend ranks #2 in Top Five Mountain Towns – Among towns in the West, this travel publication chose Bend for its wide array of activities (“a perpetual motion machine”) and its rich pub scene.
PBS: “Getting Away Together” spotlights Central Oregon – This reality vacation show airs in October and being filmed in Central Oregon. See these behind-the-scenes- takes.
BendBroadband to bring high speed Internet access to La Pine and Madras - Aiming to bridge the gap between rural and urban areas of Central Oregon, BendBroadband announced they have received approval from the city councils of La Pine and Madras to implement a 132 mile regional fiber ring that will build the infrastructure for high speed Internet access. Installations will start in September. A boost to the regional economy, the project will create approximately 75 jobs during construction and an estimated 115 permanent jobs as a result of the improved regional connectivity. Funding for the project was awarded under the American Recovery and Reinvestment Act to extend broadband access into rural communities.
Portland Business Journal - Oregon ranks No. 5 for Entrepreneurship - Oregon ranked fifth in the nation for entrepreneurial activity, according to the State Entrepreneurship Index, a state-by-state measurement of entrepreneurial activity.
Beth Wickham honored for excellence – As director of COCC’s Small Business Development Center (SBDC), Wickham was recently awarded the 2011 Oregon Small Business Development Center Network State Star Award, recognizing her commitment to make our local “BizCenter” the best. Over the last decade, EDCO has worked closely with Wickham and can attest to what one judge called her “unique ability to inspire people to reach deep within themselves to find focus and direction for their dreams.” Congratulations Beth!
Nominations for the 2011 Sustainability Award now being accepted - Through August 31st, The Environmental Center is accepting nominations for the 2011 Sustainability Awards. Given to a resident, business or organization (agency and nonprofit), the awards recognize those that demonstrate leadership and persistence in creating a sustainable future in Central Oregon. Self-nominations are encouraged and additional information, including forms, are available at www.envirocenter.org. The awards ceremony will take place on October 13th at the Oxford Hotel in downtown Bend.
Attention Central Oregon business owners, sole proprietors and independent contractors - If soaring health insurance costs weigh on your mind, learn more about SharedCare, the affordable healthcare coverage approved by Oregon’s Legislature. Non-profit healthmatters offers monthly flat rate plans to businesses with fewer than 50 employees, independent contractors (1099 workers), and sole proprietors working or residing in the tri-county area. Visit SharedCare’s website to learn more about the SharedCare program and eligibility requirements; or call or email Account Manager Jennifer Martin at 541-306-8020. A few plan highlights:
- Low monthly rate (either $108.00 or $150.00) regardless of age or health condition.
- No one turned away for pre-existing conditions.
- No large deductible to meet before health benefits kick in.
- Lower than average co-pays.
- Plans available to qualified part time workers and new business owners.
National speaker presents ‘You on Your Best Day’ at COCC on October 4th - Take your leadership and communication skills to a new level in this half-day workshop presented by award-winning speaker Michael Allosso on Tuesday, October 4 from 8:00 to 11:30 am at the COCC Campus Center. Allosso believes that everyone is a leader and leadership is how you interact with and treat others. He’ll offer tools to make each meeting, planned or spontaneous, with a group or one-on-one, more successful. Space is limited so register early. Cost is $59 and includes a buffet breakfast (7:00 a.m. start). This event is made possible by sponsors BendBroadband, US Bank and Vistage and is highly recommended by EDCO. Call 541-383-7270 or go to http://noncredit.cocc.edu for more information and to register.
Help Mid Oregon Credit collect supplies for students in need - Throughout August, Mid Oregon Credit Union will collect needed school supplies for students in the tri-county area with the Supplies 4 Schools drive. For children who can’t afford required school supplies, the project aims to o provide a sense of belonging and readiness on their first day of school. Click here for drop-off sites and more information about Supplies 4 Schools or call 541-382-1795.
New Member Heidi Berkman - Heidi Berkman provides event production & project management for a variety of industry types. With over twenty years in event planning and marketing experience, she is able to offer a suite of services, customized to each client and project. Some of her services for event production and project management include event budgeting, research, guest list development, event execution, marketing, development of strategies, community outreach, provide training and education programs for all departments of the company.
Renewing Members - We thank all of the ongoing supporters of EDCO who, by renewing their membership, make EDCO’s diversification and expansion efforts possible.
Platinum Level: St. Charles Health System (1986)
Gold Level: Harrigan, Price, Fronk & Co. (1998)
Silver Level: American Licorice (2008), Compass Commercial (1996), Deschutes Brewery (2000), Hayden Homes (2007), HSW Builders (2008), Karnopp Petersen (1987), Midstate Electric Cooperative (1991), Pepsi-Cola/7-Up Bottling Co. (1998), Schwabe, Williamson & Wyatt, P.C. (2003), William Smith Properties (1993)
Bronze Level: APCO Swiss (2006), Axia Valuation (2010), Bend-La Pine School District (2005), Carbon Neutral Plane (2009), Century Insurance (1997), Eberhard’s Dairy (1987), Fincham Financial (1998), Harper, Houf, Peterson, Righellis (2009), Hunter Properties (2008), Hurley Re P.C. (1998), Lumbermens Insurance (1997), Miller Lumber (1986), Mid Oregon Personnel (2005), North Coast Electric (2010), Robberson Ford (1986), Rosell Wealth Management (2007), Signet Mortgage (2010), Three Sisters Business Park (2005), Touchmark at Mt. Bachelor (2009), US Allegiance (2004), Vocalbooth.com (2008)
Financial Institutions: Columbia State Bank (1997), Oregonian’s Federal Credit Union (2009), South Valley Bank (2006), Umpqua Bank (2004)
Individual Level: Cascadian Group (2006), Coldwell Banker Morris Real Estate – Al Eastwood (2005), Francis Hansen & Martin (2010), John L. Scott – Bobbie Strome (1989), Prep Profile Systems (2009), Sportvision (2008)