Move Start Grow: Central Oregon business begins with EDCO
Founded in 1981, EDCO is a non-profit corporation supported by private and public members and stakeholders. Our mission is to create a diversified local economy and a strong base of middle class jobs in Central Oregon. To do this, we focus on helping companies do the following:
Move. EDCO attracts outside employers interested in relocating or expanding to the region by developing relationships with key company decision makers, site selectors, media professionals, and other influencers. We guide companies through the relocation process as a resource for regional data, incentives, site selection, and other services tailored to their specific needs.
Start. At the center of the region’s growing entrepreneurial network, EDCO mentors and advises promising, scalable young companies with support from concept to exit on issues such as access to capital, critical expertise, and strategy.
Grow. Our local businesses are the job engine of the region’s economy. Because of this, we have dedicated managers in each of the six Central Oregon communities who partner and advocate for existing companies as they grow and expand.
FUNDED BY MEMBER SUPPORT
As a membership organization, we are funded by both the public and private sectors. EDCO members represent the depth and diversity of our Central Oregon communities, as business leaders, supporters and advocates from across the region.
FOCUSED ON RESULTS
We primarily focus our efforts on traded-sector employers, which are companies that sell a majority of their goods or services outside the region. As these businesses export their products and offerings, they simultaneously import wealth into our Central Oregon’s communities and help to build a recession-proof employment base.
At EDCO, we keep close tabs on economic indicators such as job growth, total payroll and new capital investment made by traded-sector companies. The results of the last three years are as follows:
|Fiscal Year||Companies||Jobs (new & retained)||Payroll (estimated)*||New Capital Investment|
|2013-2014||30||590||$25.9 million||$210.9 million|
|2012-2013||29||1,136||$40.1 million||$340.0 million|
|2011-2012||21||890||$30.2 million||$25.6 million|
|TOTALS||80||2,616||$96.2 million||$576.5 million|
*payroll is reported by some companies, but others are estimated conservatively at the average wage for manufacturing for the region.
PLANNING FOR THE FUTURE: GOALS & OBJECTIVES
EDCO’s Strategic Plan provides an overview of our vision, mission, and objectives. It guides us as we undertake new activities and initiatives, and is a source of information for those who want to better understand our organization. Download the 2013-15 Strategic Plan.
Our goals for 2013-2015:
1. Support local traded-sector employers with a robust Business Retention & Expansion (BRE) Program that catalyzes $100 million in new capital investment; 800 new, well-paying jobs; and at least 36 “done deals” by the end of 2015.
2. Recruit 36 new companies to the region that will create 1,000 new, well-paying jobs and invest $200 million in new capital investment by the end of 2015. Target marketing and recruitment efforts geographically and by industry for greatest effectiveness.
3. Develop an ecosystem in Central Oregon that supports and attracts entrepreneurs to establish the next generation of employers and jobs. Catalyze creation of 200 new jobs via 24 early stage companies that successfully raise $50 million in growth capital by 2015.
4. Quarterback industry development initiatives and strategic projects that will pave the way for private sector employment growth.
5. Advocate and champion improvements to the region’s business climate and competitiveness.