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Bright Future for the Salem Business Journal 

Written by Luis Ramirez on Feb. 14th, 2022
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After a 17-year run, the Salem Business Journal has changed hands and is now under new ownership.

Purchasing the paper are local residents Jonathan Castro Monroy and Jesse Lippold Peone III who will be co-owners and publishers of the publication. 

Both are serial entrepreneurs who have a strong passion for local businesses in the community.

Castro Monroy is originally from Mexico but grew up in the Salem area. He graduated from North Salem High School and studied at Chemeketa Community College and Oregon State University before beginning work in the financial services industry.

Lippold Peone III is a citizen of the Confederated Tribes of Grand Ronde. He graduated from Cascade High School, received a bachelor’s degree from Willamette University, and is currently pursuing his MBA at Willamette. He has worked in the Real Estate industry and served on the Salem-Keizer school board. 

“I’m a big believer in small businesses because they fuel our local economy.” Lippold Peone III said, “We have a big opportunity here and we’re focused on bringing you the facts, being accessible, and making our paper free online. The Salem Business Journal is the Willamette Valley’s local source for reliable business news.”

The publication will continue focusing on showcasing new and established businesses in both Marion and Polk County. 

One area they hope to expand on is the representation of overlooked businesses in the community. Their goal is to give a voice to all the businesses in the community and feature those that are unique and new to the area. Empowering businesses and showing what the Mid-Willamette Valley has to offer people. 

“Here’s an opportunity where we can do positive things in the community, bring people together and empower voices that haven’t been empowered in the past,” Castro Monroy said. “We want to further move the needle for the right things in the business communities.”

Another area they hope to expand is their online and social media presence. The goal is to reach as many people as possible.

“One of the strategies is creating an online platform and infrastructure,” Castro Monroy said. “The website is live and ready. We’ll start expanding the social media channels and really build that online presence.” 

The SBJ was originally founded by Bruce Taylor, a local business owner in the Salem area, and a big supporter of local small businesses. The first issue was published in June of 2005, and Taylor recently retired in 2021. “I’m excited for Jonathan and Jesse. The SBJ is in good hands, they are both men of their word.”

The SBJ will remain free to readers with access to both online and print copy. They are currently offering multiple languages on their online platform.

“The readers don’t have to pay anything to read our articles, which makes zero barriers of entry,” Lippold Peone III said. “The print copy will be in English, but the online website will be available in multiple languages including Spanish, Russian, and several others.”

They plan to bring back Salem Magazine and The Local, which are both owned and operated by the Salem Business Journal. 

“We want to expand the Salem Business Journal’s reach,” Castro Monroy said. “There are a lot of opportunities. Bruce did very well and set a good foundation, but it’s on us to build on that foundation and take the publication to the next level.”

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