Economic Development Focused on the Future
Jan 15, 2015
Economic Development
Focused on the Future
Goal
In 5 years, beginning January 2008, The Chamber Coalition’s Economic Development Division will work to support the creation of:
• 100 Businesses with 10 Employees Each
• 10 Businesses with 100 Employees Each
OrganizationThe Economic Development Committee has operating and administrative authority that is autonomous from the Board of Directors
•Separate Leadership
•Separate Bank Accounts
•Dedicated Staff
CBCC Board of Directors
Marketing
Economic Development
Committee
Retention Expansion Start-Up Entrepreneurship Recruiting
Membership Services Finance
AdvocacyInfrastructure
Government Affairs
Economic Development Committee
• Lyle Hutchens - Chair, Devco Engineering
• Skip Rung, ONAMI
• Ron Adams, OSU Engineering
• Bob Warren, Business Oregon
• Katherine Cleland, Cleland Marketing
• Chuck Crowe, ATCO America
• Rich Holdren, OSU
• Bob Baird, The Book Bin
• Chris Nordyke, State Farm Insurance
• Eric Blackledge, Blackledge Furniture
• Matt Andresen, Sherpa Dash
STAFF• John Sechrest, Economic Development Director (1.0 FTE)
• Aaron Edewards, Recruiter (.5 FTE)
Ex Officio• Kathleen Hutchinson, Business Enterprise Center
• Separate bank accounts• Separate accounting• Budget by event/program• Dedicated staff
Chamber Coalition$609,000 (Budget)
www.cbchambercoalition.com
PTF Plan Administration
$24K
www.prosperitythatfits.uswww.prosperitythatfits.com
Traditional Chamber
Membership Based Services
$362KDues $232KNon Dues $130K
www.corvallischamber.com
Traded Sector Economic
Development Services
$223KPublic $103KContracts $19KPrivate $101K
www.corvallisedp.comwww.willametteconference.com
www.cityclubofcorvallis.org
STAGE 0 STAGE 1 STAGE 2 STAGE 3 STAGE 4 STAGE 5Concepts Start Ups Entrepreneurs Revenue Professional Exit Opportunities
Pre Product Product Capital Management SuccessionEarly Stage Testing Distribution Brand Name AcquisitionDevelopment Customers Profits Product Variations
Production0 1 Employee 11-99 100-499 500+ 500+
Employees 2-10 Employees Employees Employees Employees Employees
Start-Up (Outreach)
ED Staff Support• Recruited entrepreneur from
Lab2Market (Portland)• Connection to key researchers that
moved the idea into a product• Identification of professional
management team• SWOT Team• Investment a result of SWOT pitch• Introduction to the BEC• Assistance in locating space coming
out of BEC
“…We do thank John and the Chamber, theyreally have been an instrumental part of bringingus here and leading to our success so far.”
-Jon Hoffmeister, Founder
Stage: 2
Current Employees: 25
Employee Growth: 25
Client since: 3/2007
Investment: $2,100,000
Outreach ServicesStage 0&1 Need:• A place to regularly work
with business ideas, to vet with other entrepreneurs, to ask and be asked tough questions and develop solid business ideas
Tools:• Entrepreneurs Forum• Tech Pub• Beaver Bar Camp• StartUp Weekend• E-Tailers Forum• Peer Learning Groups• 1:1 Consultation
Since July 1, the ED Division has provided OUTREACH services to 74 of the 121 companies listed as significant clients.
Expansion (Facilitation)
ED Staff Support• Recruited project• EZ Application assistance• Infrastructure support• Business facilitation• Advocacy
“John and the Chamber were a critical resource for my firm as we looked to relocate and build our new Headquarters. John made us aware of the opportunity that existed building in the enterprise zone and once we decided to pursue this, literally walked us through the process. The net result is New Corporate Headquarters doubling our space, immediate increase of employment, and a commitment to increasing our local workforce with solid family wage jobs.
-Tom Gerding, Owner
Stage: 2
Current Employees: 65
Client since: 6/2009
Investment: $2,000,000
Facilitation ServicesStage 1&2 Need:• The ability to balance product,
marketing and financial management
• A sound business plan• Leadership and management
expertise• Resources• Access to entrepreneurial
networks• Coaches/mentors willing to ask
the right questions and help entrepreneurs find the answers.
TOOLS:• SWOT Facilitation Teams• Mentors/Coaches• Workshops and Education• Entrepreneurs Forum• Tech Pub• Beaver Bar Camp• StartUp Weekend• E-Tailers Forum• Peer Learning Groups• 1:1 Consultation
Since July 1, the ED Division has provided FACILITATION services to
74 of the 121 companies listed as significant clients.
FundingED Staff Support• SWOT Pitch• Angel Conference Participant• Facility Support• Acceleration Support• Angel Conference Winner
“CenterSpace Software came to John Sechrest with a vision but without the expertise to make it happen. John guided us through the SWOT process during which we tore apart our vision and remade it. He put us in touch with landlords, marketing people and investors. He
urged us to sign onto the WAC process. We did so and struggled. The WAC membership criticized and cajoled us. They challenged us to think bigger. We came up with a new aggressive vision and won the WAC investment. Since then, we've been fortunate to have the WAC guide us along the path to success. We look forward to working with John on our eventual expansion.”
Trevor Misfeldt, CEO
Stage: 1
Current Employees: 8
Employee Growth: 4
Client since: 1/2009
Investment: $125,000
Funding ServicesStage 1, 2 & 3 Need:• Access to financial resources• Preparation for funding
opportunities that include: – Friends– Family– Financial Institutions– Outside Investors– Potential partners– Angels & Angel Investor Groups – Conferences– Venture capitalists
Tools:• Pitch Preparation• Connections to Experienced
Management• Willamette Angel Conference• SWOT• Willamette Valley Investors
Network• 9 Venture Capital Groups• Local Angels and Venture
Capitalists• Cascades West Financial Services
Inc.• Traditional Financial Institutions• Deal Structure Training• Conference Information
Since July 1, the ED Division has provided FUNDING services to
15 of the 121 companies listed as significant clients.
Retention (Acceleration)
ED Staff Support• Grant identification and application
support• Research and information to prevent
relocation• Workforce Analysis• Connection to critical resources
“…We needed timely and quality information to make a critical decisionabout whether to move our operations…We received significantdata from the Chamber Coalition, which allowed us to recommend to our corporate partner that it would be beneficial to our organization if we stayed in Corvallis.”
-Nancy Hawkins, HR Manager
Stage: 3
Current Employees: 125
Jobs Saved: 125
Client since: 8/2006
Payroll + Multiplier: $70,000,000 (Annually)
Acceleration ServicesStage 2, 3 & 4 Need:• Entrepreneurs need
accommodations and support that maximize the productive output while minimizing the entrepreneurs time spent on noncritical activities.
Tools:• The BEC• ONAMI• Microproducts
Breakthrough Institute• Facility Resources• University Plaza• 1:1 Consultation
Since July 1, the ED Division has provided ACCELERATION services to 10 of the 121 companies listed as significant clients.
Recruiting(Cluster)
ED Staff Support• Identified location• EZ Application assistance• Infrastructure support• Business facilitation• Advocacy
"As someone who was raised in Philomath and Corvallis, I really wanted to keep investing in the local community. John was instrumental in helping us locate our new headquarters in the Enterprise Zone and showing us how Corvallis can meet our needs.“
-Jim Richardson, CEO
Stage: 2
Current Employees (In Benton Co):
0
Jobs Coming
(To Benton Co):18
Client since: 11/2009
Investment: $2,000,000
Cluster Support ServicesStage 3, 4 & 5 Need:• Ability to interact with
businesspeople in similar or related industries
• Continual enhancement of performance
• Trend and industry information
• The ability to attract businesses that expand the strength of the cluster for workforce, global competitiveness, etc.
Tools:• Targeted Recruiting• E-Tailers Forum• Software Association• Peer groups• Oregon Biosciences
Association• Trailing Spouse Support• Cluster Mapping • Peer Learning Groups• 1:1 Consultation
Since July 1, the ED Division has provided CLUSTER services to 22 of the 121 companies listed as significant clients.
We Know You Have Choices…
The Chamber Coalition’s Economic Development Division Desires:
• A closer working relationship• Aggressive ED policy led by Benton County• Clear expectations and metrics• A significant partnership• The ability to offer more services• Participation on the ED Committee
We Offer the Following:
• Creation of a new partnership• Joint effort to define metrics and expectations• Development of an accountability report and
communications process• Voting seat on the ED Committee• Monthly work session• Point of contact services for economic
development services