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June 2007 eCon Update

JASON CARR TO LEAD PRINEVILLE-CROOK COUNTY ECONOMIC DEVELOPMENT

EDCO and the Prineville/Crook County Chamber of Commerce are pleased to announce that Jason Carr will be the community’s first economic development manager.  A Central Oregon native, Carr spent more than a decade in television broadcasting in Bend and Eugene, which has given him with a strong understanding of local and regional issues impacting the economy.  Equipped with this knowledge and contacts throughout the tri-county area, Carr is excited about the career change and is eager to help make a difference in the Crook County economy.  The program is being modeled after the successful partnership forged over the past four years between EDCO, Redmond Economic Development, Inc. (REDI), Redmond Chamber of Commerce, the City of Redmond and area businesses. The hiring of Carr culminates more than two years of preparatory work in funding and local support for the new Prineville program. To learn more about the effort, and expected outcomes, Click Here

FOUR YEARS OF ECONOMIC DEVELOPMENT WORK PAY OFF IN REDMOND

Redmond Economic Development Manager Bud Prince publishes a short column each month in the Chamber’s newsletter.  Last week, he paused to reflect as he realized he was writing No. 48 in the series – precisely four years since the program started.  We highlight below Bud’s retrospective on accomplishments in Redmond. 

• Changes in Redmond
Most notably there are officially 6,050 more of us in 2007 than 2003. City records show 2,500 residential building permits were granted and Andy High at the Central Oregon Builders association reports there were over 1,900 homes built during this time to house the added population. Checking my past and present business client list, I count 93 individual companies over the past four years I’ve worked with, 24 of which moved or expanded within Redmond. 

• The ripple effect
What’s the impact of these businesses you wonder? They added at least 974 new jobs with an estimated annual payroll of over $30 million. A total of 44 new industrial buildings were built to house these new and locally expanded companies along with others that I didn’t assist. It’s conservative to say each of these nearly 1,000 new primary industrial jobs has an employment ripple effect of generating at least 2 or more additional secondary jobs (such as retail or services) in the area.  Keeping the math simple, 3,000 jobs at the county average wage generates over $90 million each year in added payroll for our local citizens.  Calculations based on additions to the assessed value of Redmond’s industrial property over the four years result in $570,000 more property taxes paid each year to support and enhance our community.

LENDERS’ ROUNDTABLE THIS THURSDAY – CALL NOW TO RESERVE YOUR SPOT

Yes, we know we’re fortunate to live in Central Oregon….but just how often do the Federal Reserve Bank and the FDIC come to YOUR doorstep?  Two topnotch speakers headline this year’s event.  Keynote speaker, Teresa Curran, Group VP and Deputy for Banking Supervision and Regulation of the SF Federal Reserve Bank, promises straight talk on the subprime lending debacle as well as thoughts about banking trends (timely given Bank of America’s launch last week of online banking via cell phone). Teresa is joined by Marlene Roberts, the FDIC’s top information security specialist, who’ll tell us what financial institutions need to do to prevent and catch fraud. You don’t need to be in banking or even a financial professional to gain insight from this program!  The fourth annual Roundtable is brought to you by the Risk Management Association (RMA) of Central Oregon, Opportunity Knocks, and EDCO.

4th Annual Central Oregon Lenders' Roundtable
Where: Phoenix Inn, 300 NW Franklin, Bend OR
When:Thursday, June 7, 11:30 am - 1:15 pm
Price: $25 per person; includes lunch provided by Tate & Tate Catering
RSVP: Dayna Dudkowski, EDCO, at 541-388-3236

CITIES RANKED AND RATED: BEND NO. 56 AMONG 400 U.S. METROS

The newly published, second edition of Cities Ranked and Rated, written by Bert Sperling and published by Frommer’s, is “the ultimate sourcebook for anyone looking to find the best place to live - or who’s hungry to know how their hometown compares.” This publication lets you drill way down to find the number of annual days below zero degrees Fahrenheit, the cost for an average doctor visit and even the number of Starbucks in a given metro area. Extensive tables show America’s most literate cities, the best states for long summer evenings, and the places with the cheapest car insurance. This is the first year Bend was covered in the survey, based on its recent designation as a Metropolitan Statistical Area (MSA) with population over 50,000. Sperling’s rankings have evolved over time, now giving more weight to housing affordability than to an area’s economy and job base. Who is Bert Sperling? A Navy brat who moved constantly, Sperling graduated from OSU and has called Portland home since 1974, when he’s not personally traveling to the cities he evaluates. Sperling works with a staff of 5 additional researchers.

Sperling’s Top Ten Best Places
1 Gainesville, FL
2 Bellingham, WA
3 Portland-Vancouver-Beaverton, OR-WA
4 Colorado Springs, CO
5 Ann Arbor, MI
6 Ogden-Clearfield, UT
7 Asheville, NC
8 Fort Collins-Loveland, CO
9 San Luis Obispo-Paso Robles, CA
10 Boise City-Nampa, ID

Interested in how other Northwest cities fared? Corvallis checks in at No. 14, Olympia No. 16, Medford No. 34 (up from 72 in 2006), Eugene at No. 68, and Salem at No. 82. Like Bend, Coeur d'Alene also made its first appearance, ranking No. 61. Boulder, Colorado - often compared to Bend - was six spots lower than Bend, at No. 62. For more details on purchasing this 850 page, fact-laden publication, or to investigate cities online, visit Sperling’s Best Places

REDMOND AIRPORT PASSENGER GROWTH AGAIN TOPS NORTHWEST REGION

A report released by Mead & Hunt, Inc., engineering and air service consultants based in the Midwest and with offices in Eugene, OR, showed that Redmond now ranks as the 16th largest passenger airports of 69 in a seven-state territory that includes CO, ID, MT, OR, UT, WA and WY. Of the top 20 largest airports, Redmond’s growth rate of 21.1% for calendar year 2006 over 2005 was more than double the second highest rate of 10.1% for Jackson, WY. Other Oregon commercial airports in the top 20 all had virtually static growth rates: Portland (+1.4%), Eugene (0.0%), Medford (+0.6%). In real terms, 34,390 more people flew through Redmond last year than the previous year. These numbers represented only a partial year of new, direct service to Los Angeles via Horizon, and did not include new service to Las Vegas which was initiated by Allegiant Air in late March 2007. Based on these new flights, EDCO expects the 2007 growth rates to be nearly the same as 2006, which will grow passenger traffic to nearly 250,000 annually. In terms of ranking, Redmond jumped four positions this year to #16, and we expect passenger counts to exceed those in Vail, CO and Pasco, WA this year to take the #14 ranking. If the past three years of growth rates continue for the next three years, Redmond will be among the top ten largest commercial airports in the territory by 2011.

BEND-LA PINE SCHOOL DISTRICT EARNS UPGRADED BOND RATING, IMPACTS NEARLY $200 MILLION

In good news released last week, Moody’s Investors Service assigned an Aa3 rating to Bend-La Pine School District’s $119 million offering in general obligation funds to be sold in June 2007 and further, upgraded the District’s outstanding $80 million of general obligation funds from an A1 to Aa3 rating. In total, $199.2 million in parity debt was positively affected. John Rexford, assistant superintendent of operations for the District, indicated the new rating could save more than $300,000 when the $119 million school bond is sold in June. Proceeds for the new bonds will be used to build several new elementary schools and to renovate existing facilities, a response to annual enrollment growth of 2.3% over the past five years and expected addition of 2,000 new students within the next five years. Moody’s cited the area’s strong economy, high real market value per capita, the District’s strengthening financial position and continuing growth, as well as other important credit qualities, for the upgrade. The new bond rating is the successful outcome of a group of individuals who met with Moody’s analysts and bond issuers from USB earlier in the month, including District leaders Superintendent Doug Nelson, Assistant Superintendent John Rexford, and Fiscal Services Director Brad Henry; Roger Lee, EDCO; and Scott Reynolds, chair of the School District Board. Of Oregon’s 198 school districts, only seven have earned the Aa category rating. For further information, Click Here

COST OF LIVING INDEX SHOWS BEND GETTING MORE EXPENSIVE

The Bend Chamber of Commerce released information late last week for first quarter 2007 Cost of Living Index (COLI) for Bend. Bend’s COLI jumped from 107.0 to 116.4 with the national average on the index at 100.0. The Bend Chamber participates in the index, which is assembled nationally by ACCRA, by periodically checking prices on a bundle of goods and services. Interestingly, Bend is one of only four Oregon cities to participate in the index along with Portland, Eugene and Klamath Falls. Other Oregon metros that do not participate in the survey include: Lake Oswego, Hillsboro, Gresham, and Medford - all which would likely have indexes higher than 100. Other West Coast cities indexed included San Francisco, CA (172.1), Los Angeles, CA (145.2) and Bellingham, WA (111.3).

Despite significant growth and competition in recent years with the construction of numerous grocery store outlets in Bend, grocery costs represented the largest percentage increase in the COLI. No surprise was the impact of housing costs which have soared over the past few years, but appear to be leveling off as 2007 progresses. The index also illuminates the region’s relatively low utility costs (electric power, natural gas, water, sewer, etc.) which has been an ongoing competitive advantage for EDCO in recruiting new companies and helping our existing manufacturing and technology firms expand. These indexed utility costs, along with health care costs, actually fell compared to the previous year. For more information about the COLI, contact the Bend Chamber at 382-3221.

Another quarterly national cost index is produced by Office of Federal Housing Enterprise Oversight (OFHEO) for housing. Bend was mentioned in the most recent index released earlier this week, which said that “some individual Metropolitan Statistical Areas (MSAs) were still enjoying rampant appreciation from the fourth quarter 2005 to the fourth quarter 2006. For example, in Bend, Oregon prices were up 21.4 percent, Wenatchee, Washington increased 20.9 percent and Provo-Orem, Utah prices appreciated 19.9 percent. For more information about this index, Click Here

HiDEC UNVEILS NEW LOGO

Thanks to the Chachka Group, Keith Manufacturing’s new marketing department, the High Desert Enterprise Consortium (HiDEC) has a logo evocative of the Central Oregon region and the progressive companies that make up its membership. In other HiDEC news, membership is up to 19 companies with the addition of Beko Membrane Technology, located in Bend. BEKO manufactures membrane compressed air dryers used in high tech applications.

Since the beginning of the year, HiDEC has provided Lean training to more than 200 employees representing 18 Central Oregon companies. Lean training is vital to becoming world class, but being informed does not make implementation easy. After several Lean training classes, Precise Flight’s Lean Manager Adam Robirts found his mind was so full of information, he didn’t know where to start. “The classes were valuable and I understood the power of Lean, but I needed help to get started” He called fellow HiDEC member Dave Slavensky, COO with Structus Building Technologies in Bend, to tour Structus’ plant for ideas. “Seeingclassroom concepts implemented on the shop floor was amazing, that’s when I got it.” Adam returned to Precise Flight, and along with Katherine Hurd, shop technician, immediately put into practice an inventory pull system. That effort, in just one department, yielded savings of nearly $15,000, the result of scaling back average inventory from $22,000 to $8,000. Companies coming together to learn and help each other reach world class proficiency is the backbone of the High Desert Enterprise Consortium.

HiDEC JUNE LINEUP FEATURES CHANGE MANAGEMENT, LEARNING TOURS

HiDEC member companies may wish to participate in these two upcoming events. The consortium realizes how important it is to create a work environment receptive to change before embarking on major process changes. Learning tours are an afternoon event held by a HiDEC member company looking to improve several areas of their facility; 15 to 20 attendees join together to brainstorm creative on-the-floor solutions for the hosts chosen issues. A new set of eyes is a powerful tool for the host company and for the attendees, it’is a great way to play in someone else’sandbox. The networking and problem solving that happens during the Learning Tour is invaluable. If you’interested in joining HiDEC or learning more about the above events, contact Eric Strobel, EDCO or 541-388-3236.

HiDEC Open Forum Roundtable on Change Management
Where: MATC, Redmond
When:Tuesday, June 5, 2:30 - 5:00 pm

TWO REASONS YOU’VE GOTTA LOVE OREGON

• You’re surrounded by courteous drivers
The second annual In The Driver’s Seat Road Rage Survey, commissioned by AutoVantage, compared driving reputations among 25 major U.S. cities. Of these, Portland, and ostensibly the state by extension, is the least likely to experience road rage (top honors two years running go to Miami, where apparently angry drivers are common). Add to it that Oregonians are the least likely to observe other drivers tailgating (Phoenix gets that award), and the Beaver State shapes up to be a fine place to commute. For more information,Click Here.

• We are more normal than we care to admit
The Portland Business Journal reports from an Associated Press study that Oregon is pretty “normal” compared with the rest of the nation. AP looked at U.S. Census Bureau data that ranks states according to how closely they resemble the country's overall demographics, examining 21 factors, including race, age, income, education, immigration and the percentage of residents living in urban and rural areas. Of the 50 states and the District of Columbia, only Illinois is more “normal”than Oregon. West Virginia is the least normal. Washington is No. 4, behind Michigan. We’re so relieved.

INFLUENCE POLICY – ATTEND CENTRAL OREGON REGIONAL TRANSIT FORUM

Rapid population growth, lengthier commutes, and rising gas prices make discussion of developing a regional-level public transportation system even more compelling. The Central Oregon Area Commission on Transportation (COACT) invites you to attend the Central Oregon Regional Transit Forum; details are below. The forum will discuss results of a comprehensive regional transit market analysis, possible next steps for regional transit development, and explore the economic benefits and costs of a regional transit system. The forum is hosted by Jefferson County Commissioner and COACT Vice Chair Bill Bellamy. COACT hopes to develop regional consensus among employers, workforce agencies, economic development organizations, transportation providers, and local governments on this issue.

Central Oregon Regional Transit Forum
Where: Eagle Crest Conference Center in Redmond
When: Monday, June 18, 2007, 3:00 – 6:00 pm
Price: No charge for admission but RSVP requested.
Contact Andrew Spreadborough, COACT or 541-504-3306.

JUNE 14TH PUBTALK FEATURES PANEL OF ALL-STAR INVESTORS

In a departure from the norm, we’ve assembled an all star panel of investment gurus for a lively discussion of investment trends in and about Central Oregon. Panelists are Vic Petroff of River Lake Partners; local angel investor Robin Gould; and local management Mike Osborn. Wayne Embree, Managing Partner of Cascadia Partners will moderate. In place of the conventional early stage presentation, we’ll highlight the winning business plan team from Pam Stevenson’s OSU-Cascades New Venture Management class. A panel of local business leaders (Dan Hobin, Giancarlo Pozzi and Erick Petersen) will participate in the students’ final presentations and choose the team to be awarded the opportunity to present at Pub Talk. Join us for the season’s last PubTalk by Clicking Here before we take a summer hiatus and reconvene in September,

June PubTalk
Where: McMenamins Old St. Francis School, Father Luke’s Room, 720 Bond St., Bend
When: Thursday, June 14th; networking starts at 5:00; program begins at 6:00
Price:$15 for EDCO and OEN members, $25 for non members
RSVP: Call Dayna Dudkowski, EDCO, at 541-388-3236

PEARLS OF WISDOM GLEANED FROM A SERIAL ENTREPRENEUR

May’s PubTalk crowd was entertained by Rene Fritz, termed a “serial entrepreneur” by Inc. Magazine, who has managed or co-founded over 23 companies and raised over $21 million in angel capital.  Fritz now dedicates himself full time to coaching other CEOs and peppered his story with “lessons learned” from his diverse investment and management experience.  We thought you’d enjoy a summary for reference:

• Focus/focus/focus.  Don’t try to do too many things at once. 
• Don’t invest, start or purchase a business in a sector that you do not understand.
• Small companies need a board. Members should not be friends or relatives. They need to get you started right and they need to be of different talents and backgrounds.
• Name the company so it telegraphs exactly what the company does (clever, contrived names are not the idea here).
• Investors first evaluate the credibility of the person running the start-up, not the product concept. They are buying you, not the product, so don’t get wrapped up in telling them all about it.
• Every successful company has two key people – the inside “guy” (nuts and bolts, CPA type) and the outside “guy”(sales and marketing the vision). Typically, skill sets don’t lend themselves to having one person handle both inside- and outside-facing responsibilities.
• In hiring, make use of personality profile tests such as Myers Briggs, other tests that capture stress, and even handwriting analysis. Getting the right mix of people and personalities is paramount to success.
• Don’t automatically shy away from hiring someone who’s been through a bankruptcy or business dissolution – some of the best lessons in life and business are gained from these experiences.
• You can’t change people; you can only help them understand their talents.
• Hire the best people – they need to have a good attitude, be coachable, be honest, and have passion. Then invest in that person.
• Cut your losses early. A corollary: take time to hire the right people but move quickly to release them if it’s not working out.
• PEOs (professional employer organizations that handle HR on an outsourced basis) can be very useful for start-ups. Two great resources are Click Here and Here
• Owners must decide: do I want to control the company, or do I want to make money. Owners must have one clear goal in this regard (you cannot typically do both).
• Passion is the key to success. Knowledge is the key to life.
• Apply the 80/20 rule to A/B/C customers. Get rid of the D’s.
• When you start a company, each day jot down three things you enjoyed and three things you didn’t like doing. Rank these but never, ever share the list with others. Analyze it in 3 or 6 months for the pattern. Go with what you enjoy doing – you’ll have a better life.
• You’ve got to have fun. When you’re not having fun, it’s time to get out.

KUDOS TO CENTRAL OREGON COMPANIES

• Central Electric Cooperative’s “Green Power” program has been ranked eighth among the nation’s public and private utilities, according to the U.S. Department of Energy’s National Renewable Energy Laboratory.
• Brian’s Cabinets has won the Central Oregon Builders Association “Materials Supplier of the Year” award. From a two-person shop in 1977, Brian’s Cabinets now employs more than 106 people in Bend in two facilities totaling more than 49,000 square feet.
• Cascade Bancorp has been named No.12 in the nation among top 200 mid-tier banks by US Banker Magazine, a financial industry trade journal. Cascade Bancorp is the leading Northwest bank in the survey.
• Bend Broadband’s Amy Tykeson was the 2007 recipient of the cable industry’s top honor, the Vanguard Award for “Distinguished Leadership.” Started in 1965, the Vanguard Awards are presented annually to individuals who excel in both business and personal commitment to their colleagues, and whose accomplishments merit recognition of the entire cable industry.

CENTRAL OREGON IN THE NEWS

• The April 2007 issue of Forbes Life profiles the Deschutes River, one of 7 river destinations. “By early June, the 2006 salmon-fly hatch was in full swing on the Deschutes River in Central Oregon. Hordes of two-inch, orange- bellied insects launched themselves from the grassy banks of the river. . .”

• Redmond-headquartered GreatOutdoors.com posts an incredible first: daily satellite telephone dispatches from David Hahn, acclaimed mountaineering writer and expedition guide, as he and his team attempted the South Col route on Mt. Everest. One of the most successful guides of the decade, Hahn set a record for US climbers with his ninth ascent on May 20th, and then helped make a life saving technical rescue from high on the mountain. An EDCO recruit that expanded to Redmond OR last year, GreatOutdoors.com sells recreational equipment and clothing and is a leader in the creation of online content for adventure travel. To hear Dave’s reports and read about the ascent, visit www.GreatOutdoors.com

• Bend is spotlighted in the June issue of Mountain Bike Magazine. Writer Jonathon Allen tells readers to bypass Moab, Utah or Durango, Colorado in favor of Bend, the “preference for some of mountain biking's biggest big dogs.” Describing Bend as a “former lumber-town-turned-gravity-sports mecca at the base of Mt. Bachelor,” Allen says Bend is a year-round playground for all species of adventure-sports athlete. Click Here

TRI-COUNTY REGION GAINS JOBS, POSTS LOW UNEMPLOYMENT, BUT MANUFACTURING STRUGGLES

Deschutes, Crook and Jefferson Counties all posted lower jobless rates in April, with traditional spring recovery in construction, the retail trade, business services and leisure and hospitality sectors. Deschutes County unemployment rate was 4.6 percent, Crook County 6.1 and Jefferson County 6.8 – all even or below last year. While job creation was moderately strong, Regional Economist Steve Williams noted there were pockets in manufacturing that are struggling. At 5.1 percent, the state of Oregon experienced a similar pattern with strong 5,600 job gain posted, mostly in non-manufacturing jobs with weakness in wood products, transportation equipment, and computer and electronic products. In contrast, the U.S. unemployment rate ticked up to 4.4%, which was in line with expectations as it reflected a slower growth rate than last year. Nationally, big gains were in health care, government, professional and business services, and leisure and hospitality. The manufacturing sector lost jobs, consistent with the Oregon pattern. Unlike Oregon and the region, national declines were in retail sales, construction, financial activities. For more in-depth articles on regional and state employment, Click Here

TRADE EQUALS MORE JOBS, BETTER JOBS

To be exact, that’s 381,507 jobs in Oregon –- nearly 18% in the state -- that depend on exports and imports of both goods and services. New research from Business Roundtable, an association of CEOs of leading U.S. companies, says expansion of international trade, the new WTO, and free trade agreements since the early 1990s have helped Oregon become more competitive in foreign markets. In 1992, only one in ten jobs in Oregon was tied to trade. “Oregon has seen a spike in high-quality jobs tied to global trade,”said John J. Castellani, president of Business Roundtable. “The research proves beyond a doubt that as foreign trade barriers fall, we export more and create new jobs.”

In 2005, Oregon companies and their employees sold products to 183 foreign countries. China is one of the state’s fastest growing trading partners with exports having increased 165 percent since 2000 to $805 million. The state’s top foreign markets are Canada, Korea and Japan. Oregon’s farmers are strong exporters, having sold $816 million worth of agricultural products in 2005. “This report definitively debunks the myth that trade has a net negative impact on U.S. employment and wages,” said Laura M. Baughman, president of Trade Partnership Worldwide and co-author of the study. “Oregon proves that more trade equals more jobs.” To view the recently-released report, Trade and American Jobs, Click Here and for more on Oregon specifically, Click Here

GOVERNOR GRANTS SRF FUNDS TO BREEDLOVE GUITAR COMPANY

Governor Kulongoski has granted Breedlove Guitar a $30,000 award from the Strategic Reserve Fund (SRF). The grant enables the high-end, custom guitar maker to expand its operation from their space-constrained Tumalo facility to a new, larger one in Bend’s Northwest Crossing community, and is the result of a joint effort between EDCO and the state Business Development Office. SRF grants are made by the Governor to help create a competitive advantage for investments in Oregon, particularly to help maintain jobs and create new jobs above average wage levels. Breedlove currently has 39 employees and plans to add another 15 well-paid positions over the next 3 years. Among performing artists, the company has an international reputation for creating unique instruments from Northwest and exotic hardwoods. Due to its domestic and international business development, 98% of Breedlove’s $8 million plus revenues are now generated outside Oregon and reflect EDCO and the state’s focus on traded-sector strategies.

“This SRF award from Governor Kulongoski is pivotal,”says Peter Newport, president of Breedlove Guitar.“We’re dedicated to serving our growing customer base from Central Oregon and a larger, more modern facility makes that possible. The award and the loan give us the resources to expand which, in turn, creates jobs at living wages for the region.” Newport explained that he had interviewed over 60 lending institutions across the U.S. to find the proper funding for expansion and found that the solution was already here in Central Oregon. Breedlove Guitar is the only manufacturer of its kind in Oregon and has grown to be one of the largest custom instrument makers in the U.S. Rock on!

NEW EDCO MEMBERS – INDIVIDUAL

A special thank you to our new members! For those of you who subscribe to this newsletter but are not yet members, consider that EDCO is nearly 100% supported by memberships. We could not operate or play a key role in helping to build a strong and vibrant regional economy without your financial support.

• Gary Hughes, Broker, the Kerr Commercial Group Realtors

• Terri Shephard, Executive Recruiter, Corporate Recruiting Solutions

LEGISLATIVE UPDATE

The 2007 legislative session is moving into the home stretch with issues progressing quickly. As we go to press, some of the hot topics include excise tax preemption which would school districts authority to levy a tax on new residential, commercial, and industrial construction to pay for school facility construction; which projects would be subject to prevailing wage laws under proposed legislation; rural airport economic development (an airport tax); and school facility planning requirements. EDCO refers you to The League of Oregon Cities organization which tracks movement on a number of bills, provides a weekly Legislative Bulletin with very readable analysis of issues by topic experts, and suggests how you can best communicate your viewpoint with Salem on those very topics. From the organization’s home page, The League of Oregon Cities, select Legislative from the left hand menu.

PENDING PROJECTS

Without breaching obligations of confidentiality, we want to make you aware of a few of our pending projects for the region – a section of the newsletter we will update every other month. EDCO's current portfolio of active projects includes 32 recruitment projects and 22 retention/expansion projects (local traded sector employers). In aggregate, these projects represent approximately $400 million in new capital investment and if all completed, would create nearly 1,700 new, family-wage jobs. They include, but are not limited to:

• Mountain EDM recently established operations at the Sisters Airport and specializes in Wire and Sinker EDM (Electrical Discharge Machining). Owner David Crosier has been a machinist for 27 years, focusing in prototype development and successful execution of difficult mechanical set-up, primarily small medical devices, such as thoracic surgery tools, and catheter delivery services. Mountain EDM also has the ability to perform 3D surfacing and general machining. Contact David Crosier at 541-633-6956 or mountainedm@yahoo.com.
• EDCO is still working to recruit the headquarters and R & D of a high technology and alternative energy company to the Bend or Redmond area. The company's operations are currently spread across multiple states and the injection of new venture investment capital is necessitating a consolidated operation. Both operations of the company would result in 32 high paid ($70,000+ average salary) management and scientific staff, and require a combined office and R & D lab space of 10,000-11,000 SF. The company’s board of directors visited the region in April and EDCO has been following up with information since that time.
• Central Oregon continues to be considered for two state generated leads - both traded-sector operations. A food processor that would construct a 60,000 to 100,000 SF facility and employ 30-40 people is considering Madras and Prineville for its operations. The other project is a customer service center within the health care industry that would construct a 30,000 SF facility and employ 60-90 people at high wages. EDCO believes both companies could be a good fit for the region in terms of size and industry (diversification).
• EDCO is working on a new customer service center project for the La Pine area that could bring 50-120 full and part-time jobs to this community. The company is looking at options for existing space as well as build-to-suit options.
• A newly formed manufacturing firm is moving forward on establishing its operations in Redmond with signing of a lease for 10,000 sf in one of that community’s many new light industrial buildings. EDCO/REDI (Redmond Economic Development, Inc.) is assisting the company with application to the Enterprise Zone and logistics with the project, which will also create half-dozen new jobs.
• EDCO is working with the owner of certificates and manufacturing rights for several certified aviation components who is interested in relocating to the Bend area from California. The owner is looking for a partnership with area aircraft manufacturers or a new investment group. Job creation at this time is unknown; however there would be a significant capital investment in ramping up production.

PENDING RETENTION/EXPANSION PROJECTS

• A Redmond manufacturing company is in the process of purchasing another company outside the area with the purpose of consolidating operations in the Redmond area. This acquisition and consolidation will result in about six new jobs and will require lease of approximately 8,000 sf of newly constructed light industrial space.
• A long-standing Central Oregon manufacturer has received a large grant to add a major piece of equipment and we are working with them to secure assistance funding for a second device to complement their new expansion process. The total capital investment will be well over $1 million and add at least 12 new jobs over the next year.
• We have been working with a developer in Redmond to secure necessary permits to construct a 25,000 SF build-to-suit structure for an industrial distribution firm that is consolidating operations in Redmond. Working closely with the City Planning Department, they have changed a very challenging site situation into a workable arrangement and now construction is underway.
• Another area manufacturing company looking at relocation to Redmond since last summer appears to have found an industrial site that fits the space requirements needed for a 27,000 SF building along with delivery and outside storage needs. This growing company will initially employ 21 and after two years anticipates doubling that number.

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