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ECONOMIC VITALITY ECONOMIC VITALITY
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Economic Vitality Action Team Economic Vitality Action Team - - PowerPoint PPT Presentation
Economic Vitality Action Team Economic Vitality Action Team - - PowerPoint PPT Presentation
Economic Vitality Action Team Economic Vitality Action Team
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Economic Vitality Action Team Local Investing Local Investing
Film Screening Darkside Theatre
July 2012
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Economic Vitality Action Team Local Investing Focus Local Investing Focus
“Small Change, Big Change” Community Investing Forum
November 2012
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Economic Vitality Action Team Local Investing Focus Local Investing Focus
Corvallis Sustainability Coalition 2013 Town Hall
March 2013
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Common Common Aims with the Aims with the Economic Development Commission Economic Development Commission
- In support of all three goals of the Economic
In support of all three goals of the Economic Development Strategy and Smaller Step 2 Development Strategy and Smaller Step 2
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(August 2013) Requests to the Economic Development Commission Economic Development Commission
- Be aware of a survey recently released by the Action
Team regarding capacity for local investing
- Survey is available at tiny.cc/EVATsurvey or from
- Survey is available at tiny.cc/EVATsurvey or from
Coalition homepage at www.SustainableCorvallis.org
- Please invite us back to share the results.
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Survey Participants
Local Investing Local Investing Background (Q1) Background (Q1) Own Own Business? Business? (Q2) (Q2) Business info Business info (Q3 (Q3 – 5) 5) Seek Seek investment? investment? Investment need Investment need
Yes (78) Yes (78) Yes (33) Yes (33) (188 people) (188 people)
188 people, including: 188 people, including:
- 78 business owners
78 business owners
- 33 seeking investment
33 seeking investment
- 138 people interested in
138 people interested in investing locally investing locally
(Q2) (Q2) investment? investment? (Q6) (Q6) Investment need Investment need (Q7 (Q7-12) 12) Wiling to Wiling to invest? invest? (Q13) (Q13) Contact Info & Contact Info & Thank you Thank you Investor Info Investor Info (Q14 (Q14-18) 18)
Yes (138) Yes (138)
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- Q1. Indicate your familiarity and interest in the following:
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Want to learn more Familiar Want to participate NOT interested
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Q1: Other topics of interest:
- Mid sized local profitable companies interested in investors to fund expansion
- Options that qualify for inclusion in IRA
- Community gardens/orchards financing.
- Investing in local food systems and local arable land.
- Investing in single-family houses to rent to low-income families
- Non-economic ones like Hours Trader and barter.
- local investing of IRA funds in a Real Estate Investment Trust as a funding vehicle for
a community land trust
- farmlands IPO, REIT for community land trust
- Options for low-income folks to get involved in investing locally
- Options for low-income folks to get involved in investing locally
- *Occupy Money* by Margrit Kennedy (2012)
- The JAK model and "demurrage." practiced by Sweden's JAK Bank since 1965.
- Portland has a thing called Supportland - which is a rewards card for spending
money at local businesses.
- Socially Responsible Investing
- SWOT, BEC, WIN, WAC, Other angel conferences
- Move Your Money
- "De-growth.
- Effect of "economic growth" on climate.
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Business Section Business Section 78 Responses 78 Responses
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- Q3. What does your business do?
Solar Electricity Skilled labor - finish carpentry Eco home remodels I make and sell bioregional jewelry & am an entertainment specialist Nonprofit youth services provider I don't know yet. Fresh culinary herbs, eggs, small conference center Bookkeeping services and interior plantscaping (I have two businesses) Local produce, local crafts, local music venue electronics repair and service Business, life, and conflict coaching Insurance/Investment Services Fitness Training, sell Yoga supplies Social service based economic development permaculture A temporary employment agency serving Benton County Fiber Arts Instruction; Recreation services, eg. cycling and dance instruction Jewelry sales Carpentry architecture Publish a region directory of green and natural healthy business & topics Books Movie theater Build Bicycles Design Services Independent Environmental Consulting Handmade art and jewelry Non Profit dedicated to eliminating the use of toxic chemicals Grow tree fruits, possibly produce cider and/or perry Rent a duplex near campus electronics repair and service manufacturing Graphic Design / Printing psychotherapy Financial Planner property management general contractor/handyman artisan bread bakery using local
- rganic ingredients
Artisan breads Wine shop (bottle shop) Sell seeds Services Bicycle Shop architecture creative reuse center like SCRAP in Portland property management food service Dietary supplements Produce Landscape architectural services Illustration, Craft Printmaking Writing and editing services Interior Plantscaping and bookkeeping businesses Nonprofit development, bookkeeping,
- rganizing
Cinema Rent a duplex near campus Landscape design, consulting, maintenance, rainwater collection, raingardens Small non-profit scientific
- rganization specializing in research,
conservation, and education High tech I am looking for startup opportunities in any industry Farming Books and educational lectures Health care Consulting We provide integrative chiropractic and functional medicine services Solar panels, software
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Future startup 13 (19%) Less than a year
- Q4. How long have you been in business?
Less than a year 8 (11%) 1 to 5 years 12 (17%) More than 5 years 37 (53%)
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None 25 (36%) Six – 15 2 (3%) 16-50 5 (7%)
- ver 50
1 (1%)
- Q5. Estimate the number of full time employees.
One – Five 37 (53%)
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Yes, 11 (15%)
- Q6. Is your business (or startup) likely to seek an
investment or loan within the next 24 months?
Maybe, 22 (30%) No, 41 (55%)
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usiness usiness ing hinary loyees usiness
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Q7) What purpose(s) would your business apply a loan or investment toward?
Also mentioned: Also mentioned: remodel home to house cooperative commercial bakery remodel home to house cooperative commercial bakery weatherizing, landscaping, energy weatherizing, landscaping, energy-system upgrade system upgrade developing website developing website Buying new processing equipment Buying new processing equipment
Expanding your busine Starting new busine Repairing/replacing infrastructure or machina Hiring new employe Moving your busine Developing new produc line Restructuring de Buffering against interruptions in cre
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15 20 25 30
- Q9. Identify the order in which you would expect
to access each source, if at all.
6 5 4 3 2 1 5 10
Family, Friends, and Fans Bank or Private Institution Loan Personal Cash
- r Credit
Government or Nonprofit Grant
- r Loan
Offering Equity
- r New
Ownership Sale of Business Assets
1 Also mentioned: Also mentioned: Crowd Crowd-funding, Grants, Advance Sales funding, Grants, Advance Sales
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Q10.
- Q10. If borrowing money, what annual percentage
If borrowing money, what annual percentage interest rate would work for your business? interest rate would work for your business?
Responses: Responses:
2.5 2.5 3 3 3 4 5 5 5 5 6 6 6 7 8 8 8 8 10 10 10 10 10 10
Average: 6.125 +/ Average: 6.125 +/- 2.3 Standard Deviation 2.3 Standard Deviation
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Investor’s Section Investor’s Section Investor’s Section Investor’s Section 138 Responses 138 Responses
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Other Responses: Other Responses:
- investing in my own community's future.
investing in my own community's future.
- See all of Corvallis independent of Wall Street
See all of Corvallis independent of Wall Street
- Investing in agriculture land with water rights. Local food systems/industries: cannery, dairy, etc.
Investing in agriculture land with water rights. Local food systems/industries: cannery, dairy, etc.
- Figuring out how to safely and not foolishly get out of carbon
Figuring out how to safely and not foolishly get out of carbon-ville ville
- Quality screening for social investment values
Quality screening for social investment values
- Supportive local culture and government.
Supportive local culture and government.
- Free Enterprise mentality.
Free Enterprise mentality.
Q16.
- Q16. Important considerations if investing
Important considerations if investing locally? locally?
- Divesting in carbon energy
Divesting in carbon energy
- Setting up investing locally to be universally accessible, within reach of ALL income levels.
Setting up investing locally to be universally accessible, within reach of ALL income levels.
- Land trusts for farmers and for housing so that people can get a start without the high costs of the
Land trusts for farmers and for housing so that people can get a start without the high costs of the current market on profit. current market on profit.
- I would like to see businesses be not for profit and trade with one another without interest costs and
I would like to see businesses be not for profit and trade with one another without interest costs and take the profit margin out and still "make a living" take the profit margin out and still "make a living"
- Move $ away from "too big to fail" banks
Move $ away from "too big to fail" banks
- Increase our local anti
Increase our local anti-fragility to perturbations in the energy or monetary supply: preparing for worst fragility to perturbations in the energy or monetary supply: preparing for worst case, e.g. biking more and learning to carry big or heavy things by bike. case, e.g. biking more and learning to carry big or heavy things by bike.
- Re
Re-directing PERS investments (I am an OSU retiree) directing PERS investments (I am an OSU retiree)
- I don't have any money invested directly in Wall Street, but I'm sure that some of my money is indirectly
I don't have any money invested directly in Wall Street, but I'm sure that some of my money is indirectly going to corporations (i.e., through the credit union and through my retirement funds in the California going to corporations (i.e., through the credit union and through my retirement funds in the California State Teachers Retirement System). I'd rather see that money stay in Corvallis. State Teachers Retirement System). I'd rather see that money stay in Corvallis.
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Q17.
- Q17. What types of projects would you be most
What types of projects would you be most excited about funding? excited about funding?
- Food, alternative energy
Food, alternative energy
- natural farming/permaculture, agroforestry
natural farming/permaculture, agroforestry
- nes that employ 50+ people & pay good wages
- nes that employ 50+ people & pay good wages
- grocery in south Corvallis, sustainable and varied
grocery in south Corvallis, sustainable and varied renewable energy, and natural resource projects. renewable energy, and natural resource projects.
- Food and farming
Food and farming
- Alternative energy
Alternative energy
- local sustainable food
local sustainable food
- sustainable farming
sustainable farming
- The key for me is meeting the owners
The key for me is meeting the owners
- I'm open to hearing what's out there.
I'm open to hearing what's out there.
- local music venues, farmers, food producers
local music venues, farmers, food producers
- self
self-reliant bed and breakfast reliant bed and breakfast
- Basic needs: food, housing, transportation, energy
Basic needs: food, housing, transportation, energy
- aligned with community priorities
aligned with community priorities
- Core goods or services. Not "product of the day"
Core goods or services. Not "product of the day" businesses. businesses.
- Local Business
Local Business
- Solar and other renewable energy/energy efficiency
Solar and other renewable energy/energy efficiency projects projects
- green technologies, value added food production,
green technologies, value added food production,
- those with potential for reducing resource
those with potential for reducing resource consumption and/or improving quality of life consumption and/or improving quality of life
- Interested in those things that keep Corvallis' unique
Interested in those things that keep Corvallis' unique character. character.
- Peaceful ones. I'd want to know the proprietors.
Peaceful ones. I'd want to know the proprietors.
- Community land trust, food production and processing
Community land trust, food production and processing
- Local food production; food system support
Local food production; food system support entrepreneurship; sustainable projects (triple bottom entrepreneurship; sustainable projects (triple bottom line) line)
- Traded sector firms, tech manufacturing, energy
Traded sector firms, tech manufacturing, energy technology, with a local food company tossed in for technology, with a local food company tossed in for good measure. good measure.
- small business start ups that pay success forward
small business start ups that pay success forward
- Food, energy and transportation projects. Bike
Food, energy and transportation projects. Bike shares, community solar, locally shares, community solar, locally-
- sourced delivery
sourced delivery food, and the list goes on. food, and the list goes on.
- Local food production.
Local food production.
- Energy, food production
Energy, food production
- Sustainable businesses and local food production
Sustainable businesses and local food production
- Traded sector with great working conditions: bring
Traded sector with great working conditions: bring money into Corvallis from outside area money into Corvallis from outside area
- solar electricity production
solar electricity production
- construction/building
construction/building
- alternative energy, low
alternative energy, low-
- income housing
income housing
- New technology or software
New technology or software
- Farm related
Farm related
- food production or food processing, garment
food production or food processing, garment production, tool production, recycling processing production, tool production, recycling processing
- manufacturing tools for organic growers
manufacturing tools for organic growers
- Food processing, farms, other small businesses,
Food processing, farms, other small businesses, businesses. businesses.
- A local building development rather than out of state
A local building development rather than out of state developers developers
- Community agriculture, renewable energy systems,
Community agriculture, renewable energy systems, bike bike-powered mass transit, and similarly green/planet powered mass transit, and similarly green/planet- safe enterprises safe enterprises
- Sustainable local food systems
Sustainable local food systems
- Local food production, housing
Local food production, housing
- Sustainable food systems and distributed generation
Sustainable food systems and distributed generation systems (electric) systems (electric)
- Community solar
Community solar
- Local food
Local food-related related
- Sustainability, Alternative Movements, Education
Sustainability, Alternative Movements, Education
- Cooperatives, sustainable ventures
Cooperatives, sustainable ventures
- Eco
Eco-friendly innovations friendly innovations
- Local people with ideas to benefit the local community
Local people with ideas to benefit the local community
- Organic agriculture and food processing,
Organic agriculture and food processing, biochar biochar production production
- Natural resources, OSU / HP/ spinouts
Natural resources, OSU / HP/ spinouts
- small business start ups that pay success forward
small business start ups that pay success forward
- Local electricity generation and fuel production, local
Local electricity generation and fuel production, local food processing food processing
- sustainable power projects, local food projects,
sustainable power projects, local food projects, sustainable housing sustainable housing
- local solar
local solar
- Farming, local essential food saving businesses, land
Farming, local essential food saving businesses, land trust housing. As these projects got going I could trust housing. As these projects got going I could would invest more money as times went on. would invest more money as times went on.
- Local food related projects jump to mind, but we are
Local food related projects jump to mind, but we are
- pen to suggestions.
- pen to suggestions.
- Sustainability and food production
Sustainability and food production
- First would be food processing/production, after that,
First would be food processing/production, after that, but tend toward the small creative type but tend toward the small creative type
- Not sure. Open to ideas. Has to be sustainable.
Not sure. Open to ideas. Has to be sustainable.
- Sustainable with growth potential (to put more folks to
Sustainable with growth potential (to put more folks to work) work)
- Projects that directly add to food security or reduce
Projects that directly add to food security or reduce the carbon footprint of our community the carbon footprint of our community
- Local food manufacturing, alternative transportation
Local food manufacturing, alternative transportation manufacturing, businesses that employ and teach manufacturing, businesses that employ and teach skills to teenagers. skills to teenagers.
- Food processing, farms, other small businesses,
Food processing, farms, other small businesses, especially those improving community sustainability especially those improving community sustainability
- Local production for local uses
Local production for local uses
- alternative energy and transportation and
alternative energy and transportation and
- rganic/sustainable agriculture
- rganic/sustainable agriculture
- Food production and sustainable technology
Food production and sustainable technology
- small manufacturing
small manufacturing
- Projects that directly support a clean energy future,
Projects that directly support a clean energy future, local food production, and water conservation. local food production, and water conservation.
- Traded sector
Traded sector
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< $500 16% 19 $10 - $50k 16% 19 > $50k 6% 7
- Q18. If you identified local business(es) you were willing
to invest in, what amount would you consider investing or lending?
Under $500 $500 to $1k 18% 22 $1 - $5k 22% 27 $5 - $10k 22% 27 Under $500 $500 to $1000 $1000 to $5000 $5000 to $10,000 $10,000 to $50,000
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- Q19. Which of the following describe you?
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