Remember us telling you about a business workshop focused on keeping drunk drivers off the road… of course you do. Anyhow, the organizers have contacted us to say they’ve moved it to another day – you’ll find all their info in the business calendar section down below.
And now onto this week’s local business news.
Local Home Market Continues to Tighten: Corvallis remains a tight market with a total 1.31 months of inventory, this is a slight increase compared to the previous 1.45 months of inventory. According to most experts, a housing stock of 5 to 6 months constitutes a healthy market.
In Albany, the total months of inventory remains low at 1.23, indicating a seller’s market that has slightly improved from the previous figure of 1.06. Lebanon, on the other hand, has experienced a notable rise in inventory, with the total months of supply now at 2.35, up from the previous 1.95.
Samantha Alley of RE/MAX Integrity said, “The real estate market in the Albany-Corvallis-Lebanon region continues to exhibit strong conditions for sellers, with a comparison of the latest statistics showcasing their advantage. Overall, these figures suggest that the region’s real estate market remains favorable for sellers, with homes selling quickly and limited competition among available properties.”
The median sale price for Corvallis has been $550,000 over the last 90 days. For Albany it’s been $430,000, and for Lebanon it’s been $400,000.
Corvallis Firm Grabs from Fetch: In what Tech Crunch is calling a ‘vote of confidence,’ Agility Robotics has hired Melonee Wise as their new CTO. Wise was co-founder and CEO for Fetch Robotics until its sale to Zebra Technologies in 2021. Between then and now, she’d been serving as Zebra’s VP of Robotics Automation.
With Oregon State University professor and Agility co-founder Jonathan Hurst leaving his role as CTO to Wise, he becomes the CRO, or Chief Robotics Officer.
Reminder, back in April, Agility raised $150 million in Series B, bringing their total funding to $180 million.
Oregon CAT Tax: Last week, the Senate Finance Committee held a hearing on SB 140 and several proposed amendments. While most of the proposed amendments were innocuous technical changes, the one amendment would make what Oregon Business & Industry calls substantive and troubling changes to the corporate activity tax.
The amendment would raise the exemption from $1 million to $2 million. However, because the change was designed to be revenue neutral, it would lower the cost of goods sold and labor cost carve-out to 30% (from 35%) and raise the CAT rate to .615% (from.57%, an 8% hike) for companies with Oregon “activities” above $10 million. Because the proposal is revenue neutral, Legislative Counsel determined that the bill could pass with a simple majority and not require the three-fifths vote normally needed for tax increases despite the fact, as OBI sees it, that the amendment would raise taxes on thousands of Oregon businesses. At the hearing, there was substantial opposition to the amendment from various industry and association groups.
Debt Collection Changes Probably Dead: HB 2008 would shield a substantial number of Oregonians from collection agency actions – and allow consumers to sue companies for unlawful collection attempts for up to six years. The bill hasn’t budged since April, and it doesn’t seem like it’ll be moving anytime soon.
Retail Theft: Two funding bills that are part of the organized retail theft package are moving through the process. SB 900, which would set up a grant program available to local governments to bolster retail crime sting operations, moved through the Joint Committee on Ways and Means June 2. Its companion bill, SB 318, would fund an analyst and two investigator positions within Oregon Department of Justice to help coordinate prosecution of organized retail theft. It has been assigned to the public safety subcommittee of the Joint Committee on Ways and Means, a sign that it’s moving forward. A vote for that bill should happen in the next week or two, though both bills ultimately would have to pass the paralyzed Senate.
And, here’s your local business events calendar…
Going Into Business: Facilitated by Linn-Benton Community College SBDC. In just one session, you’ll get all the basic information you will need to begin planning your successful business. Rules, regulations, financing, customers, markets, and feasibility will all be discussed in this FREE seminar! This seminar is offered through Zoom video conferencing.
6:30 to 7:20 pm, Tuesday, June 13. Free online course. Click here to register.
Women in Business Luncheon: Alisha Carlson works with women using her non-diet approach to food, fitness, and life transformation to help her clients create a healthy and balanced lifestyle without dieting, deprivation, or restriction. Alisha teaches women how to radically love themselves, their bodies, and their lives before they ever lose a pound by healing their relationship to food, exercise, their bodies, and themselves.
12 pm., Wednesday, June 14, Courtyard Marriott in Corvallis, 400 SW 1st Street. Click here to register.
QuickBooks ONLINE Level 2: Facilitated by Linn-Benton Community College SBDC. If you have completed QB Online Level 1 or are slightly more than a “new user” of QuickBooks Online, this training will help expand your existing base of knowledge. Class includes lessons in fundamentals of accounting, reconciling bank accounts, inventory, and running reports. Note: This is for the Online version of QuickBooks. This is NOT for the desktop or Mac versions.
2 to 4 pm., Wednesday, June 14. Fee is $75. Click here to register.
Considering Grad School: This virtual session introduces the Graduate Business Programs at Oregon State University! In this online session they will cover graduate program options in the College of Business, including the MBA, Master’s, and Graduate Certificates programs. They will also introduce the curriculum, program tracks, admission and financial aid, and what sets Oregon State apart from other programs. Oregon State University offers graduate business programs in Portland, Corvallis, and online.
12 to 1 pm, Wednesday, June 21. Online event, click here to register.
Business Book Club: Discuss one new book each month with the intention to come away being more empowered, motivated, and knowledgeable about business, career, and professional development. This month, the group will discuss “Endurance: Shackleton’s Incredible Voyage” by Alfred Lansing.
5 to 6 pm., Wednesday June 21. The Biere Library, 151 Northwest Monroe Avenue, Corvallis. Click here for more information.
Local Cops Seek Your Help: If you own or work at a public facing business, and especially if it’s a bar or restaurant, you may be able to prevent an impaired driving fatality – there’s tools that can help, and they’re simple. This gathering, organized by the Corvallis Area Restaurants and Bars (CARB) Alliance dovetails with the Benton County Sheriff’s Enough is Enough enhanced enforcement campaign to get impaired drivers off the road.
Expect presentations from both local law enforcement and CARB, as well as a non-alcoholic beverage representative. While the focus is on bar and restaurant owners, managers, and staff, members of the general public are encouraged to attend.
3 pm, Monday, June 26 at The Whiteside Theater. Attendance is free.
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