The Business Enterprise Center (BEC) has received a contract extension with the City of Corvallis marketing the Airport Industrial Park and Benton-Corvallis Enterprise Zone, and general economic development services. The BEC will provide services through the end of December of this year and support the smooth transition to the newly-formed City of Corvallis’s Economic Development Office. The contract employs one half-time staff and 2 part-time contractors.
Over the history of the contract, the BEC has succeeded in achieving the City of Corvallis’ goal of recruiting two companies per year. The Enterprise Zone, which encompasses part of the Airport Industrial Park, enables qualifying companies to receive property tax abatements on new building and newly installed capital equipment for 3-5 years, in exchange for compensating benefits for the community. Since its inception, four locally-started businesses NuScale, NaturalPoint, T. Gerding Construction, and Perpetua Power, have benefited from Enterprise Zone property tax abatements; supporting growth and job creation.