PROVIDING NETWORKING OPPORTUNITIES
Discussing the Future of Southern Oregon Businesses at The Chamber of Medford & Jackson County Forum Hybrid Forum with Colleen Padilla, Executive Director of SOREDI. Sponsored by: U.S. Bank, January Forum T he theme of January’s Forum centered around change. Colleen Padilla, Executive Director of SOREDI, noted how much change local businesses Southern Oregon, in addition to reaching out to companies and promoting the qualities of the region. “The number one thing that matters most to companies is if they’ll find the workforce they need to help their company thrive in Southern Oregon, even during pre-pandemic times,” Padilla said.
have undergone because of the pandemic, wildfires, and shifts in the economy. She explained SOREDI has remained active during these unprecedented times, especially the past 20-24 months.
Companies also require industrial land that fits their needs. However, Oregon has the most restrictive land use laws in the nation, according to Padilla. This has been a huge struggle for businesses to overcome because it creates additional restraints on companies which may want to do business here. “But we are still a strategic and desirable location, especially being on the I-5,” she added. However, Southern Oregon has experienced a lot of growth recently, including two Rogue Credit Union building projects, investments with Asante, and the Margaritaville Hotel in South Medford, among others. Even amidst the pandemic and wildfires, there have been key indicators of change happening throughout Southern Oregon. “Most jobs are back, but there are many
Chartered in 1987, SOREDI provides business development services which focus on helping traded-sector, scalable companies. “Our vision has always been for South- ern Oregon to become the most busi- ness-friendly region on the West Coast,” said Padilla. Padilla then introduced SOREDI’s three core services — to launch, prosper and relocate — and went in-depth about each one.
First, their loan program is a large part of how SOREDI helps launch businesses. “In fiscal year 2020-2021, we lent $1.6 million to nine businesses which helped create and retain 72 jobs,” said Padilla. Additionally, SOREDI is actively helping scalable businesses. Padilla urged anyone in attendance to direct upcoming entrepreneurs to seek out information from SOREDI about investments and other financial resources. Next, SOREDI is focused on helping businesses prosper. “We have worked in 15 different jurisdictions and with 516 businesses, and awarded over $7 million in funds through our Grant Administration,” Padilla explained. Recently, SOREDI received grants from the EDA for pandemic relief. They gave $77 million of these funds as sub-grants to partner organizations and small cities. Third, SOREDI helps with relocation services. This includes receiving inquiries from businesses who want to move to
Colleen Padilla, Executive Director of SOREDI
unfilled positions. Unemployment is down and consumers are saving a lot of money,” said Padilla. “Wages are rising, but inflation definitely hurts. Then, housing inventory is still lagging and the prices are very high.” However, Padilla said SOREDI is an organization of doers and they are optimistic about what the future holds for Southern Oregon businesses. “One of the best things you can do is pay it forward,” said Padilla. “Be business friendly and promote Southern Oregon to others.” n
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The Business Review | January 2022
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