March 16, 2018 – “THE DALLES, Ore., March 15, 2018 — Google officially opened its Taylor Lake data center in The Dalles today with an afternoon celebration attended by employees with their families and local community members. The celebration marked the completion of the first phase of the construction, just as the second phase of building gets underway. The completion of the $600 million expansion will bring Google’s total investment in The Dalles to $1.8 billion.” Read more from the Gorge Newscenter here.
March 14, 2018 – Businesses and the economy are benefiting from access to financing through Mid-Columbia Economic Development District (MCEDD), according to a recent study conducted by the Oregon Consulting Group. The team completed an independent analysis of MCEDD’s revolving loan fund program, revealing that businesses in the program have overall significantly contributed to employment, wages, and community health. The program, which is available to entrepreneurs, start-up businesses and expanding businesses in Sherman, Hood River, Wasco, Klickitat and Skamania counties, was created to provide access to capital and complement private sector lending.
Metrics from the study measured the growth of businesses over time and provided a comparison pre- and post-financing of the change in number of employees, business revenue and area growth. Across each metric, businesses performed well. Highlights include:
total wage growth of $40 million
more than 50% of wage growth attributable to jobs paying higher than average wages for the region
program had a significant impact on hiring employees, with 85% noting that the financing through MCEDD allowed them to increase employment in the local area. Significantly, that hiring trend continued post-financing, as well.
businesses are reinvesting into community
businesses had a a $450,000 median increase in sales
88% of businesses were stable or growing after concluding their financial relationship with MCEDD.
The full final report is available here. Read the press release here.