In the economic meltdown of the early ‘80s, Economic Development for Central Oregon (EDCO) was founded to lead the region’s business recruitment and industry diversification efforts. Over the years, we’ve added full retention and expansion services as well as a robust, multi-faceted program to help entrepreneurs and early-stage companies “grow our own” next generation of traded-sector employers.
In addition to our focus on private businesses as the region’s job engine, EDCO also worked to improve Central Oregon’s business climate by: proposing or influencing legislation that impacts employers, advocating for more higher education coursework and degrees, and working with local cities and counties to improve planning and permitting processes.
Last but not least, EDCO also plays a lead role in critical strategic projects that benefit all businesses. That includes improving the capacity of the region’s critical infrastructure (water, sewer, telecom, electric power, natural gas, highway and rail transportation), commercial air service recruitment and retention, and having the right inventory of land and buildings for prospective employers.
As with all successful economic development, we do not work alone, but with many other team members – cities, counties, the state, our state and congressional leaders, and a host of other private organizations including chambers of commerce, visitor associations, industry groups, colleges and universities to name just a few.
Improving and enhancing Central Oregon’s economic potential
So what are we planning to do in 2012 to make it happen? More now than
ever before:
Become One of Six National UAV Test Areas. Push forward with our partners at Oregon State University and The Confederated Tribes of Warm Springs to create a new unmanned aerial vehicle (UAV) sector for the benefit of the region and state. 2012 efforts focus on assembling a competitive bid for a national UAV testing area that could result in hundreds of jobs within the next five years.
Create 500 Well Paying Primary Jobs. Convert at least 25 percent of our “pending business development projects” – companies in the final stages of decision-making to relocate to the area, expand existing operations or launch a successful new venture – to “done deals.” A one in four conversion rate might sound low, but in the economic development world it is laudatory. We believe it’s achievable because our pipeline is pumped and decisions are overdue.
By meeting this goal 500 new primary jobs will spin off at least another 750 secondary jobs for an increase of total payroll in the region of $43 million. Success on this goal will also inject $362 million in new capital investment into the region.
Build on our Successful 2011 Entrepreneurial Program. Assist local early stage companies with raising at least $25 million in new investment (equity) capital and create a new Rural Oregon Seed Fund based in Bend.
Influence Key Pieces of Legislation: create 450 acres of new industrial-zoned land in Redmond, allow data centers to locate in Oregon without penalty of property taxes on intangibles (blue sky), create new water rights mitigation credits for municipal use in Prineville, and update Oregon’s industrial revenue bond statutes to allow for R & D and working capital expenditures. Success on these fronts will result in company decisions to invest and move jobs to our region.
Expand Commercial Air Service by recruiting new non-stop commercial air service to southern California (LA area).
Fill the Former Cessna Facility at the Bend Airport with a strong and viable aviation/aerospace manufacturing company.
Develop Large-Lot Inventory to Attract Larger Employers/Projects: Assist the region’s cities and counties in developing new inventory of large-lot industrial parcels that can be marketed to larger users. This makes Central Oregon more competitive in job creation with other metro areas in the state.
Expand Higher Education in Software, Engineering: Support launch of new higher education coursework and degree offerings in Central Oregon for software and engineering.
Expand Enterprise Zones in Bend and Sisters, renew Prineville/Crook County enterprise zone while adding an e-commerce zone designation.
Revise Central Oregon’s Strategic Plan for economic development as a blueprint for efforts and initiatives through 2015. We undertake this bottom-up effort every three years, involving a host of local groups and leaders throughout the Tri-County area.
Political and Financial Support is Critical
An ambitious agenda? Yes. But with solid political and grass-roots support, it is achievable. It will also need concrete financial support. While not listed, an equally important activity for EDCO in 2012 is to secure the necessary funding from local private businesses, foundations and governments to execute the agenda outlined above. Many residents don’t realize that no stream of continuous funding exists for EDCO. Financially, the organization relies on the annual investments of cities, counties, higher education, and on numerous contributions from local businesses and individuals. Our intent in 2012 is to develop a more solid baseline of financial funding.
We leave you with the note that EDCO believes 2012 will be a year of noticeable growth and expansion for the national, state and regional economy. It is imperative that we, as a region, capitalize on opportunities in the next 18 months.
