Corvallis Chamber Economic Forecast Breakfast January 13, 2016.

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Presentation transcript:

Corvallis Chamber Economic Forecast Breakfast January 13, 2016

January / 2016 Labor Trends Unemployment Rates United StatesRaw Seasonally Adjusted Nov %5.0% Oct %5.0% Oregon Nov %5.7% Oct %6.0% Benton Nov %4.3% Oct %4.5% Linn Nov % Oct %7.0%

Manufacturing Employment

Wages OregonEmployersEmploymentPayroll 2015 Average Pay 2010 Average Pay Manufacturing5,737179,088$11,462,469,558$64,005$57,411 Professional & Business Services 22, ,846$ 13,256,653,577$ 60,575$48,302 Education & Health Services 14, ,634 $ 11,137,372,169$ 46,091$42,208 Health & Social Assistance 12, ,662$ 10,149,747,280$ 47,727$43,709 Agriculture (includes Forestry) 3,809 49,409$ 1,517,873,343$ 30,720$ 25,900 Retail. Wholesale 22, ,404$ 10,083,741,542$ 37,569$ 37, Benton CountyEmployersEmploymentPayroll 2015 Average Pay Manufacturing 105 3,015$ 234,150,401$ 77,661 Professional & Business Services 422 3,948$ 214,029,041$ 54,212 Education & Health Services 306 5,703$ 287,318,579$ 50,380 Health & Social Assistance 269 5,239$ 276,489,845$ 52,775 Agriculture (includes Forestry) 100 1,047$ 36,545,062$ 34,904 Retail. Wholesale 331 3,838$ 115,050,548$ 29,977

Property Values

Enterprise Zone Results Business Firm New/additional Employees (Actual) $ Investment (to date) Expected 1st Initial Yr. Employees Years of Exemption T. Gerding5$2,143,12615 Natural Point43$3,165,16423 NuScale283$4,932, Perpetua2$164, Towns7$2,766,87433 Block 153$1,865,40323 Total343$15,037,96099

Annual Activity Assisted withFY Start-up11 Start-up Follow-up visits20 Expansion10 Expansion Follow-up visits50 Retention4 Retention Follow-up visits10 Recruitment30 Recruitment Follow-up visits58 Economic Development Officer visits (1st time)67 Economic Development Officer visits (Follow-up)87

Outcomes & Targeted Impacts The SBDC delivered the following impacts (2015) SBDC ImpactsGoalActual Client Advisory Sessions (Hours) Long-term clients (5+ hours)3245 New business starts26 Jobs created/retained994 Capital Infusion$300,000$659,657 Increased revenue$500,000$1,868,000 Training events held1228

Client Survey Surveyed 82 Clients (31% response so far) 21 new jobs Average of 550% revenue increase $5 million in new investment Corvallis Business Climate was a 3 (scale of 1-5)

OSU Advantage Accelerator

Commercial Construction Value in Millions of Dollars

Total Construction Value in Millions of Dollars

Number of Residential vs Non-Residential Plan Reviews (Remodels, Additions, New Buildings)

Total Number of Permits Issued

Current Activity Development in the hopper – Planning review to final construction: –Total = ~$142 million –Private = ~ $52 million –OSU = ~$90 million

Questions?