The Valliscor construction site as seen from Ferry Street on Jan. 23, 2026.
The chemical manufacturing plant being built on Ferry Street in Albany qualifies to be free from property taxes for five years, an exemption the city council is being asked to approve this week.
The council talked about it briefly during Monday’s work session and will be asked to vote on the exemption on Wednesday. Councilor Carolyn McLeod expressed some misgivings, but I didn’t hear her say how she would vote.
The company, Valliscor, is building the Albany factory to make fluorine-containing products for pharmaceutical, electronics and polymer industries. The plant qualifies for the tax exemption under the state enterprise zone program intended to encourage job creation and economic growth.
According to the city staff, the Albany Valliscor project amounts to an investment of $25 million. A memo to the council says the company, now in Corvallis, will “retain its current 15 employees and plans to hire an additional 40 in the first phase of development, with significant additional hiring in future phases.”
To qualify for the five-year tax break, “the firm’s new employees shall receive an average annual compensation equal to or greater than 150 percent of the county average annual wage.”
In Linn County the average annual wage now is said to be $57,435, which means new workers at Valliscor will make an average of at least $86,153, including benefits.
The emphasis on “average” in the paperwork suggests that not all the new hires will get 150 percent of the Linn County average. It sounds like some will get more and others less.
Last August, the Albany council agreed to give Valliscor $500,000 from a sewer and water fund to help with development costs. I reported on it here.
Construction is at an early stage. But a sign on the Ferry Street fence shows what the plant will look like when it’s complete. (hh)
The sign on the Ferry Street site has this rendering of the Valliscor plant’s main building.
Has there been any public discussion about what additional resources or training the Albany Fire Department may need to safely support this type of industrial operation? It would be reassuring to know that the city, the company, and local emergency services are collaborating early to ensure our community is fully prepared.
I agree with you.
THEY PICKED ALBANY BECAUSE THEY BLEW THRU 22 MILLION ALREADY..WHY NOT ANOTHER $ 500,000….THE GOOD NEWS ARE THE JOBS….22 MIL….NO JOBS
I don’t like this being so close to our water supply. And now they’re going to be tax-free? Ridiculous absolutely ridiculous. The rich get richer especially in Albany
I think they picked Albany because Corvallis wouldn’t let them put that kind of chemicals in their community, especially a residential area. They already have a facility on Circle Blvd.
$500,000 from sewer and water fund?
Is this why we pay so much on our water bill?
They shouldn’t get any tax breaks from the fire department because they’ll need the fire protection. Is this going to be another situation where we give them tax breaks and/or investment or grant money and then they leave at the end of their 5 years like it seems so many others do? Also what happens to the city and nearby residents if there’s an accident? Is there a risk of explosion with these compounds? Seems like all things residents need to know. We already have an increase in chemical releases in the air that haven’t been happening until the last year or two and that’s not being addressed adequately. Do residents need to worry about what the health ramifications are for these chemicals? Like Millersburg- the city representatives we are electing seem to care more for money than health and willing to take companies no one else wants. Meanwhile more farmland gone.