When I rode the bike there Friday, the Valliscor property on Ferry Street looked ready for the groundbreaking Monday.
Albany city officials are confident the planned Valliscor chemical manufacturing plant on Ferry Street will be a great asset to the local economy with an impact of millions of dollars per year.
That’s why the city staff recommended giving the company $500,000 to help with the costs of developing the site. The city council unanimously approved the grant on Wednesday.
Money for the grant comes from an economic development fund supported by sewer and water revenues.
Valliscor, now based in Corvallis, makes chemicals used in producing medications for a variety of diseases including asthma and cancer. Its products also have applications in the semi-conductor industry, Economic Development Manager Sophie Adams told the council in a memo.
In March the company bought two undeveloped parcels totaling nearly 13 acres from Pacific Cast Technologies, whose plant is nearby. The parcels are at 2435 and 2445 Ferry St. S.W. County records online say Valliscor paid $1,350,000 for each parcel.
On Monday, a groundbreaking ceremony is planned at the site. The event is set for 2 p.m.
Adams told the council in her memo that city staff began working with Valliscor in the fall of 2023 “to ensure this local company could find a home and bring their investment, impact and jobs to our community.”
Including the purchase of the land, the company expects to spend about $14 million to develop the site and build the plant.
The company has 15 employees and expects to hire 40 more at an average wage of $82,000 a year when the new plant is on line, according to the staff memo. Adams estimated the plant’s “total direct annual impact” on the Albany economy at $4.6 million.
On its website, the company says: ” Valliscor specializes in the commercial manufacture of high-value compounds containing the element fluorine – particularly materials that require production under specific requirements due to their regulated properties.”
The city’s Community Development Department approved Valliscor’s site plan on Feb. 3, with numerous conditions. You can read my report on that action here.
I’m not much for groundbreaking ceremonies, but bike rides around town occasionally take me along the industrial part of Ferry Street, south of Queen Avenue. I’ll try to report on the project as the new plant takes shape. (hh)
Hopefully Albany residents will be the 40 employees.
They will like commute from where they currently commute from.
No wonder our sewer and water bill is so high. Read the article to understand my point.
Seems like the company was already coming here with or without 500k via the timing of the purchase of the land. It is quite the paradox that the city does a number of things that contribute to a difficult and costly environment to do business in, yet they award a 500k grant to a new business coming in town. The existing businesses and residents of Albany need relief from the onslaught of new taxes and relief from the aggressive increases to existing fees and taxes.
I took off my glasses, closed my eyes, & took several deep breaths after reading 2nd paragraph.
Thank you Hasso for keeping us informed on all things.
Hopefully all the nut jobs from the Friday courthouse will be there to protest (not that it matters). At least this story mentions how the council is wasting the additional fees they are charging the citizens. Unbelievable.
Thanks for the update on this project.
And to think they’re moving there all the way from … Corvallis. Does the council not realize how “palm-greasing” this appears? $500k gift from the residents of Albany to this company?? Not a good look, and not a great return really.
“Adams estimated the plant’s “total direct annual impact” on the Albany economy at $4.6 million”
Thank you, Ms. Adams, for bringing this company to Albany! We look forward to the economic boost!
Somewhere (had to be the D-H paper) I read a while back about this plant maybe coming to Albany. But, at that time, I don’t think the purchase of the parcels of land had gone through yet. It was considered then that Corvallis’ reason for turning down the plant being built there was that they did not want another chemical plant in Corvallis.
I’ll try again to get Hasso to print my further comments on the chemical plant: About a year ago, Corvallis decided they didn’t want a new chemical plant that used the element fluorine in manufacturing. So, the owners of chemical company zeroed in on Ferry Street in Albany. What happened to all the concern by citizens about the use of fluorine gas? I’m sure that concern did not just disappear.
Also, regarding the new well-paying jobs that this chemical plant will generate, I thought the big thing regarding the economy of Albany was The Carousel and the money poured into the stage at Monteith Park and the bricking over of Water Street and the awaited Lepman Construction projects. Council said Albany’s downtown was guaranteed to be the economic star of the Willamette Valley?! So, why do we need the potential risk that a chemical plant brings?