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In The News

Listen to Deanna Palm's Business Break! (mp3 file, 1 MB)

> Chamber Honors Hillsboro's Shining Stars
> What's the Role of the Arts in Downtown Hillsboro?
> Bond Measure for New Schools Proposed
> PGE Becomes Independent Again
> MathStar, Inc. Moves Corporate Headquarters to Hillsboro, Oregon
> Genentech Selects Hillsboro


Chamber Honors Hillsboro's Shining Stars

On May 18, the Hillsboro Chamber celebrated the accomplishments and contributions of a special group of Hillsboro's citizens. The following individuals have been honored by the Chamber's Awards Nomination Committee with some of Hillsboro's most coveted awards:
Chamber Volunteer of the Year: Chamber Ambassador Committee
Distinguished Youth Award: Kevork Isikbay
Agricultural Achievement Award: Dave & Sally Herb, Dick & Sue Hertel
Outstanding Professional: Judge Gayle Nachtigal
Organization of the Year: Centro Cultural
Business of the Year: Hillsboro Pharmacy
Bob Herb Leadership Award: Dick Inukai
Special Merit Award: David Lawrence
Chairman’s Award: Ron Powne
Emma C. McKinney Distinguished Citizen Award: Lloyd Baron


What's the Role of the Arts in Downtown Hillsboro?

The arts have played a key role in the revitalization of downtowns and older commercial districts around the region and around the country.  Could the arts play a similar role here in Hillsboro?  The Downtown Renaissance Project seeks to answer that question. 

As we explore this question we would like to hear from you.  Please visit www.downtownhillsboro.org and click on the Downtown Renaissance Survey to tell us about your vision for downtown Hillsboro.  A hard copy of the survey is available by request.  Please call Rene Heade at (503) 681-6468 to receive a copy.

The City of Hillsboro, Hillsboro Downtown Business Association, and Hillsboro Chamber of Commerce have partnered on this project which is funded, in part, by a Technical Assistance Grant from the Oregon Department of Land Conservation and Development.


University of Oregon Index of Economic Indicators (download pdf file, 192 KB)
After rising for four consecutive months, the University of Oregon Index of Economic Indicators™ dropped in February, falling 0.7 percent to 107.3 (1996=100). Only one indicator, Oregon nonfarm payrolls, improved, while one indicator, Oregon residential building permits, remained essentially unchanged. The remaining indicators that comprise the UO Index—Oregon initial unemployment claims, The Oregonian help-wanted ads, Oregon weight distance tax, U.S. consumer confidence, U.S. manufacturing orders, and the interest rate spread—deteriorated... download pdf file for more info>


Bond Measure for New Schools Proposed

The Hillsboro School District Board of Directors is currently reviewing a proposal to go out for a bond in the November election. The measure, if approved by voters, would pay to construct new buildings to provide room for the District's growing student population. More info>


PGE Becomes Independent Again

The plan to return PGE to a publicly traded, Oregon-based utility officially took effect April 3. PGE will be listed on the New York Stock Exchange under the ticker symbol “POR.” When-issued trading is expected to start April 3, and PGE anticipates regular-way trading to begin on or about April 10.

The plan for PGE's independence, which was approved by the Oregon Public Utility Commission in December 2005 and is widely supported by customer groups, low-income advocates and others, calls for the issuance of 62.5 million shares of new PGE common stock to Enron's creditors. PGE's existing common stock, which was entirely held by Enron since PGE was purchased in 1997, has been canceled.

PGE is now one of the largest Oregon-based publicly traded companies. As an investor-owned utility, PGE will continue to be regulated by the OPUC, which has authority for setting rates, certain operational decisions and changes in ownership.

PGE's separation from Enron also means the Oregon-based utility will file all income tax payments on its own and pay taxes directly to the government agencies to which they are due.


MathStar, Inc. Moves Corporate Headquarters to Hillsboro, Oregon

MathStar, Inc. (Nasdaq:MATH), the FPOA leader, today announced the formal relocation of their corporate headquarters to Hillsboro, Oregon from Minneapolis, Minnesota. The Governor of Oregon, Ted Kulongoski, and the Mayor of Hillsboro, Tom Hughes, will join MathStar CEO Doug Pihl to speak today at a grand opening event to mark the occasion.

“This move represents a significant investment in the Hillsboro area for MathStar,” said Mr. Pihl. “Now that our entire executive team is located in Hillsboro, it made sense for MathStar to designate this facility as our corporate headquarters. We are recruiting engineers from the areas deep talent pool as we continue to grow our company to serve the demands of the high-performance programmable logic market.”

MathStar is a fabless semiconductor company that designs, manufactures and markets a new class of programmable logic chips called Field Programmable Object Arrays . FPOAs are high-performance, re-programmable integrated circuits based on proprietary Silicon Object technology. FPOAs process logic functions at a clock rate of 1 Gigahertz, which is two to four times faster than current commercially available programmable logic devices.

“I'm proud to welcome MathStar to Oregon," said Governor Ted Kulongoski. "Our recruiting efforts showcased the high quality of workers available in the Portland metro area, which is critically important to companies like MathStar. I know that this company and this community will enjoy a long and mutually beneficial relationship.”

MathStar currently has 35 employees at its Hillsboro facility and plans to hire up to 15 more experienced engineers by the end of 2006.

“MathStar considered multiple options when looking to expand and we are proud they’ve chosen Hillsboro, said Hillsboro Mayor Tom Hughes. "The Sunset Technology Corridor is a place where technology-driven startup companies feel at home.”


Genentech Selects Hillsboro

Biotechnology giant Genentech has selected Hillsboro for the construction and development of a facility that will fill and package commercial drugs.

The expansion could bring as many as 300 new jobs to the area by 2015.

San Francisco-based Genentech (NYSE: DNA) will locate its new campus on a 100-acre site on Shute Road in Hillsboro. The company expects to break ground on the facility in late 2006, with completion in 2008. The facility is expected to be licensed and operational in 2010.

“We are delighted that Genentech has chosen Hillsboro for its newest facility,” said Hillsboro Mayor Tom Hughes. “Biotechnology will broaden our economic base.  Genentech is a leader in their industry and their decision to locate here fits into our City's vision for knowledge-based industry. Genentech's corporate culture will be a perfect fit for the "high-tech" culture we have developed in Hillsboro.”

Genentech officials cited Oregon ’s advantageous business environment, and its single-sales factor apportionment tax policy as particularly attractive to growing companies like Genentech. In addition, Oregon’s high-quality available labor force and development-ready land with supporting infrastructure also helped Oregon and Hillsboro tip the scale.

 

 
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