Salem Business Journal archive
680 articles · Page 43 of 68
Holiday Growth up 6-8%
The National Retail Federation anticipates a 6% to 8% increase in holiday retail sales, reaching up to $960.4 billion, despite inflation concerns. Online sales are expected to rise by 10% to 12%. Consumers are adapting spending habits by shopping earlier and incorporating savings, while retailers face challenges including hiring seasonal workers and weather impacts.
How a looming rail strike would affect businesses, consumers
A potential freight rail strike could significantly disrupt the U.S. economy, costing $2 billion daily and affecting various industries, including food, chemicals, and automobiles. Essential supplies might run low, leading to increased prices and job losses. Passenger services would also be impacted, stranding commuters and worsening service delays.
Salem/Keizer Non-Profit Christmas Initiatives
Capital FC hosted its annual CFC Soccer Ball Auction on November 19, raising significant funds for youth scholarships. Two upcoming fundraisers, the Christmas and New Year’s tournaments, will be held at Salem Indoor. Salem Free Clinics will continue offering free healthcare services and accepting gift cards for uninsured patients during the holidays.
Maps members on track to give back more than $130,000 to the community in 2022
Maps Credit Union's Free Community Checking program in Marion and Polk counties enables members to contribute to local causes simply by using their debit cards. Last year, this initiative generated over $130,000 for education, scholarships, and nonprofits. Since 2012, nearly a million dollars have been donated, significantly enhancing community support and engagement.
The Withnell Family YMCA Opens Their Doors
The newly remodeled Salem Withnell Family YMCA opened on October 20 after four years of renovation. The 51,000-square-foot facility aims to serve the community with improved amenities, expanding from 1800 to over 1900 memberships. A capital campaign of $30.5 million is nearly debt-free, showcasing community support for essential local projects.
Five Tips to Help Oregon Shops and Restaurants Succeed on Nov. 26
Small Business Saturday, on November 26, 2022, is gaining popularity as Black Friday's appeal declines due to early holiday sales. Spending at independent retailers reached $23.3 billion last year, a significant increase. Small businesses face challenges but can thrive through social media promotion, special offers, and community partnerships to drive local support.
Where Salem Ranks Among Best Cities for DIYers, and why it matters
A Porch report identifies the best U.S. locations for DIY enthusiasts, highlighting the Salem metro area with 4.88 hardware stores per 10,000 residents. The COVID-19 pandemic spurred increased DIY activity due to more time at home and labor costs. Montana ranks highest in store concentration, while states like California lag behind.
EPA Awards $750,000 Pollution Prevention Grants to Oregon, Idaho and the Knik Tribal Council, Funded by the Bipartisan Infrastructure Law
At a Portland event, EPA’s Jennie Romer announced $751,550 in pollution prevention grants for Oregon, Idaho, and the Knik Tribal Council. These funds support initiatives that reduce pollution, lower costs, and aid underserved communities, complementing a prior $12 million funding from the Bipartisan Infrastructure Law focused on sustainable practices.
Industrial Asset Stats by Salem Zip Code
Salem's industrial real estate market shows diverse trends across zip codes. Central Salem has low vacancies and rising rents. South Salem faces elevated vacancies despite strong rents. North Salem has minimal inventory but high sale prices. West Salem struggles with high vacancies. Southeast Salem shows promise with zero vacancies and ongoing construction.
Inflation's Impact on the Economy and Commercial Real Estate
The market is undergoing significant changes, driven by high inflation and rising interest rates. While Salem, Oregon is expected to remain stable due to its conservative growth patterns, the commercial real estate sector feels the impact of these rate hikes. The residential market has slowed, affecting construction and transactions. Future trends may hinge on the upcoming election year's influence on interest rates.