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Corvallis‑area economic office reports CPACE approval, airport annexation work and semiconductor funding wins
Summary
The Corvallis-Benton County Economic Development Office updated commissioners on new local tools (CPACE), an Airport Industrial Park annexation survey, and federal and state funding for semiconductor and microfluidic research at Oregon State University and HP-related projects.
Christopher Jacobs, economic development manager for Corvallis‑Benton County, briefed commissioners on Feb. 18 about quarterly work to attract business investment, help existing companies, and prepare industrial sites.
The most immediate policy change Jacobs noted is the county’s CPACE (Commercial Property Assessed Clean Energy) program, which passed first reading and is expected back for a second reading in March. Jacobs said CPACE and a pending multi‑unit property tax exemption application will help spur downtown housing and taxable development.
Airport Industrial Park: Jacobs said the office is finalizing a survey task order for an annexation package that would add roughly 1,000 acres in the urban growth boundary into city limits to permit updated industrial zoning and site development. He said the survey should be finished in April and an annexation application filed in May.
Market and workforce snapshot: The office reported county commercial vacancy at 4% and industrial vacancy at 3%. Major regional employers remain Oregon State University and Samaritan Health Services. Jacobs cited Bureau of Labor Statistics and state secretary‑of‑state NAICS data covering industry counts and employment trends.
Semiconductor and research funding: Jacobs highlighted large awards tied to the OSU tech hub and local firms: HPE (Hewlett Packard Enterprise) recently received federal chips‑act support, and OSU’s microfluidic tech hub received $45 million in federal funding on Jan. 14, 2025. He said those investments, together with prior state funds, bolster commercialization and research at OSU and may support local supply‑chain and job growth over the next decade.
Other projects: Jacobs said staff are producing an EV‑charging commercial‑landscape analysis to identify gaps (fast chargers vs. level‑1), continuing food‑hub and downtown development work, pursuing Main Street revitalization grant opportunities (up to $400,000), and preparing industrial code amendments and an annexation package for the Airport Industrial Park.
Ending: Commissioners asked for follow‑up on annexation timing, EV charging options downtown, and coordination between Corvallis and county transportation requests to ensure local projects are competitive for state and federal grant cycles.
