The City is partnering with the State of Oregon to develop over 500 acres of industrial property located in the Mill Creek Corporate Center in southeast Salem. This project, when completed, is expected to generate more than $400 Million in private investment, and generate several thousand family wage jobs. Capstone Partners LLC was recently selected as the Master Developer for Phase 1A encompassing 160 acres of property along Kuebler Road between Aumsville Highway and Turner Road. Capstone’s first development phase will consist of 680,000 sq ft. of business park/flex buildings, light industrial/manufacturing, logistics, and a small amount of service retail space. The market value for the first phase of construction is estimated at $52 Million. Based on industry standards, Capstone expects this phase to provide 640 permanent jobs (in addition to construction jobs to build the project). Capstone is currently working with the State on final details of the Development and Disposition Agreement (DDA). Development on the first 42 acres is expected to begin in the summer of 2008.
Last spring, Staff participated in the SEDCOR-led effort to develop a profile of the Mid-Willamette Valley economy – with a focus on traded sector and manufacturing employment. This effort culminated in a strategic plan entitled "Mid-Willamette Valley Economic Action Agenda to Support a Thriving Traded Sector". Partners included Marion County, Yamhill County, Oregon Economic and Community Development Department, the City of Salem, Mid-Willamette Valley Council of Governments, Enterprise for Employment and Education, and SEDCOR.
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