Last week, Eugene Weekly returned to print after what some would’ve thought a near death business experience. Just before Christmas they discovered the loss of about $200,000 to a staffer that embezzled, and they had to lay off their entire staff and go online-only.
We at The Advocate offer hearty congrats!
Should we Like Oregon’s Office of Economic Analysis this Much: We also love ourselves some state economists, and not just because their forecasts these last few quarters have been somewhat rosy, but it also turns out they’ve been fairly spot-on.
Their latest quarterly forecast is out, and it’s fairly decent.
But, don’t take our word for it, here’s what an Oregon Business & Industry, or OBI, analyst had to say on the matter. “The economic outlook is stable. State economists pointed to increasing sentiment among economists that the Federal Reserve can achieve a “soft landing.” Inflation is close to the Fed’s target level, but it may take some time for the Fed to begin lowering interest rates due to continued strength in the economy, including personal and corporate income growth, a strong job market and improving consumer sentiment.”
However, the forecast also contains notes of caution, and OBI said, “A more serious potential obstacle to strong economic growth is the state’s stagnating population. The forecast projects population growth of only 0.6% per year over next 10 years. In the forecast released in December 2023, economists projected 0.7% per year. Deaths are currently exceeding births in Oregon, which leaves in-migration as the only source of population growth.”
Economists noted repeatedly that improvements in efficiency are needed to bridge any potential gaps in economic output caused by slowing population growth. They pointed specifically to the need for investments in equipment, machinery and processes that improve efficiency and production. OBI says they believe investment tax and regulatory policies need to support those investments, and they are continuing to lobby to that end in Salem.
CORVALLIS COMINGS & GOINGS
Oregon State Credit Union Announces new President: Oregon State Credit has announced that Gary Schuette II will replace Rick Hein as President/CEO. Hein announced last year that he would be retiring this spring, he has served for 24 years.
Last year, Hein was named CEO of the year by the National Association of Federally Insured Credit Unions. Under Heins’ leadership, the credit union has grown to almost 140,000 members, the fifth largest in Oregon.
Who’s the New Guy: Schuette has more than 19 years of experience in financial services, most recently serving as the Chief Financial Performance Officer for Vystar Credit Union of Jacksonville, Florida. Schuette has held various positions at the $13.5 billion dollar credit union, focusing on the organization’s financial performance and growth strategies. Prior to his time at Vystar Credit Union, Schuette held the role of Vice President of Financial Risk Management and Strategy at Local Government Federal Credit Union in Raleigh, North Carolina. Gary holds both a Bachelor of Science in Finance, as well as a Bachelor of Science in Management from Virginia Tech University. He is a Chartered Financial Analyst.
When asked about the upcoming executive transition, Board Chair, Kelley Kaiser, said, “We believe the future is bright here at Oregon State Credit Union. While we will miss Rick, Gary has a long-standing track record of success throughout his career, and we believe he will continue the growth and success of our credit union for years to come.”
Schuette expressed his gratitude and excitement to have been selected for the role, “I look forward to working with Oregon State Credit Union’s Board of Directors and employees as the credit union continues to grow and provide outstanding products and services for its membership.”
Arts Center Seeks New Director: Moving from finance to the arts, The Arts Center, or TAC, in downtown Corvallis is seeking to replace the irreplaceable Cynthia Spencer as Executive Director. TAC says they plan to seek applications for the remainder of February, and that the transition will take place July 1.
Spencer took the reins in 2014 and has both stabilized the venue and its operations – and widened its programming, scope and accessibility. Over the years, Spencer has emboldened TAC to take on difficult conversations that other organizations in the community have sometimes shied away from.
Notably, for an institution that needs to schedule about a year in advance, TAC slated talks and an exhibit focused on legacies of oppression that hit the community calendar just as the country started to reckon with the brutal murder of George Floyd by police. The timing could not have been more prescient.
YOUR BUSINESS EVENTS CALENDAR
Family Business 360. 8:30 to 9:30 am, Wednesday, Feb. 14, virtual.
Growing into the family business with two NexGen leaders, hosted by the OSU Center for Family Enterprise. Click here for info and registration.
Iterate Workshop: Take Your Business Idea to the Next Step. Feb 21, 28, March 6,and 13, from 3:00 p.m. to 4:30 p.m. Free. Virtual. Sign up deadline: February 16th.
The OSU Advantage Accelerator is offering Iterate, a free virtual class for researchers and prospective entrepreneurs who have a business idea or technology that could become a sellable product or service but aren’t sure what to do next. Iterate consists of four workshops on Wednesdays that build on each other. Click here to register.
Women in Business Luncheon. 12 to 1 pm, Wednesday Feb. 21 at The Marriott in Corvallis.
Speaker Jean Bonifas, owner of Springboard NW, has a Masters in Speech Communication and Bachelors’ in Drama. She is equally a performance artist and a business owner. Clients speak highly of her ability to connect and engage people without talking them to death. Register by Feb. 19, click here.
Business After Hours. 5:30 to 7:30 pm, Thursday, Feb. 22, at Delfino Wines, 3111 Santiam Hwy SE Suite G, Albany.
This is the Chamber’s monthly evening networking event designed to foster professional connections and collaboration within the business community, providing a relaxed and informal environment for professionals to engage and build valuable relationships. Click here for more info.
Greeters. 8:30 to 9:30, Tuesday, Feb. 27. WorkSorce Corvallis, 4170 SW Research Way, Corvallis.
This event for Chamber members happens most Tuesday morning – it’s an opportunity to welcome individuals and their businesses into the community, support business success through Chamber membership, and networking opportunities. No advance registration is required.
