Corvallis rated #3 in Business Vitality by Moody's and Wall St. Journal
Corvallis rated #3 in Moody's Business Vitality Index in 6-11-07 Wall St. Journal. Section
"Vital Signs" A look at how cities and states compare on various measures of development:
Category: "Rarin' to go" -Moody's Economy.com has devised a Business Vitality Index that rates the overall economic vitality of a metro area by looking at a range of factors rather than just one measure. The index takes into account current economic conditions such as household income growth, factors that affect prospective conditions, including labor availability and regional cost structure, and potential risks such as employment volatility. Here are the top 8 out of 379 metros.
Besides being an all around great place to live and raise a family, Corvallis is only an hour from the Pacific coast, two hours from skiing and just over an hour to the Portland metro area. For more about the area see Moving to Benton County
Benton County and Corvallis are located in the heart of the Willamette Valley, with the Willamette River bordering the community. Corvallis offers direct travel to all areas of the state with I-5 several miles east of the city and the east/west State Highways 34 an integral part of the traffic pattern. The City of Portland, the Cascade Mountains and the Pacific Ocean are all within an hour and a half driving time, putting Benton County in an excellent position for economic and recreational opportunities.
I-5 Freeway: The primary north-south route runs 10 miles due east of Corvallis. US Highway 99 bisects Corvallis, running through Monroe, Corvallis and Adair Village. Oregon Highway 20 and 34 east-west routes connect the Willamette Valley to the Pacific Ocean and Central Oregon, through Philomath to the west.
Rail freight service going east is operated by Burlington Northern, southerly service is Southern Pacific, west and north is operated by The Willamette and Pacific Railroad. Amtrak and the Talgo trains between Vancouver BC and Los Angeles provide passenger service in Albany, 20 miles away. The Port of Portland container facility is 93 miles away.
Corvallis Municipal Airport accommodates general aviation and corporate aircraft. The main runway is 5900'x 150'. The Eugene Airport is 40 minutes south and the Portland International Airport is 1.5 hours north.
The Corvallis Transit System and the Linn-Benton Loop offers busing services in the Corvallis/Philomath area. 24-hour taxi services are available and Dial-a-ride is provided for seniors and the disabled.
Benton County's year round climate is mild. . Winter months are generally mild, with an average annual rainfall of 40 inches. Average temperature during winter months is 58 degrees while summer months are mild with an average temperature of 78 degrees. Humidity is generally low with most rainfall occurring from November through May. Snow is unusual on the valley floor, averaging one inch or less per year in Corvallis.
Corvallis's population within its city limits is over 50,000 and growing. Benton County's population is approximately 85,000.
The elevation for Corvallis is just above 200 feet. Some residential areas have an elevation ranging up to 800 feet.
Housing and Land
Two and three bedroom homes in the Benton County area are usually available for rent or purchase. The bulk of rental housing, depending on size, location and quality will range from $500 - $1200 per month.
Mid-valley construction of single and multiple-unit dwellings has kept pace with the recent growth in population. The cost of a typical new 1200 square feet three-bedroom home begins at $130,000.
The State collects net income taxes on corporations and personal income; local government is funded by property taxes. Oregon is one of four states without a sales tax. Consolidated compressed property tax rate for the fiscal year of 1999-2000 in Benton County was $16.75/$1000 est.
The Cities and County have no general business licenses/fee.
The State Capitol is located in Salem, 45 minutes north of Corvallis. The Legislature meets biannually. There is no Unitary Tax of Worldwide Holding, State or Local Sales Tax, Inventory Tax, Real Estate Transfer Tax, Business Tax or Occupational Tax. Taxes levied includes Personal and Corporate Income Tax, Employment Tax, Workers Compensation, which has a lower rate structure. Oregon also has low Motor Vehicle fees. Capitol - Gov. Office, Capitol Bldg., Salem OR 97310; 1-503-378-4423.
The Corvallis water system receives its water supply from two sources. The Taylor Treatment Plant in southeast Corvallis draws water from the Willamette River. The Rock Creek Treatment Plant takes water from the Rock Creek Watershed on the east side of Mary's Peak. Its purity far exceeds standards of the State Health Division.
Benton County’s diverse economy outside of Corvallis is based largely on agriculture including; Christmas trees, seed crops, dairy and sheep, lumber and paper and a newly emerging wine industry.
Commitment to Economic Vitality
Corvallis and Benton County are at the beginning of a five year Economic Vitality planning process. A consortium of fifteen entities has developed and adopted a plan for economic growth, and the City is now leading a team to manage a five year implementation.
The EVP is a consortium of fifteen economic development, government and social service organizations working together to keep Benton County a vibrant place to live and work. As part of that charge, the EVP has a goal of creating a unified strategic plan to act as an umbrella for economic development services in Benton County, creating greater collaboration and eliminating redundancy wherever possible. Using the Vision 2020, as a starting place, the EVP is working with the community to devise a plan to attain the attributes provided on the Economic Vitality page. The Economic Vitality Plan can be found here.
Economic Vitality Plan (Prosperity that Fits) Member Organizations