KCEDA works closely with Klamath County Commissioners to help facilitate downtown grocery store purchase, while simultaneously speaking with a variety of potential tenants.

Klamath Falls, Oregon (August 28^th, 2017) – With the goal of acquiring local ownership of the downtown grocery store property, as of mid-July, the Klamath County Economic Development Association (KCEDA) began efforts with private and public sector partners to help purchase the property from the current owners, Value Rock Investment Partners (based out of Irvine, California).

Upon initial conversations with Value Rock, it became apparent to those locally involved with these discussions that the County would have the funds available to enter a transaction as a potential buyer for the property. Working closely with the commissioners, KCEDA and the County developed a plan as to how they could most effectively execute the purchase, where on behalf of the County, Commissioner Donnie Boyd took the lead in helping negotiate a deal through KCEDA. Having reached suitable terms in a purchase agreement with Value Rock, the Klamath County Commissioners voted today to move forward on finalizing the deal. Having signed off at the County offices this afternoon, the next phase of the process will be having the property enter escrow. Speaking on behalf of KCEDA, Business Development Manager Rick Abel talked about KCEDA’s involvement and what he sees as potential impact of the purchase by stating, “Although this purchase is just a step forward within the larger pursuit of trying to bring a grocer to fill the space, it is nonetheless an important step. Having site control will be immensely helpful in our recruiting efforts. Very proud of our organization, and our strong partners at the County.”  

KCEDA and the County, like many, recognize the profound need for a downtown grocery store. In addition to serving the downtown population’s grocery and pharmaceutical needs, based on estimates that KCEDA has prepared, having the grocery store operational would not only provide new jobs to the area, but has the potential of generating over $300K in additional revenue to the City of Klamath Falls and Klamath County consistently over a ten year period; this figure also does not account for spin-off jobs and/or any additional residential development that would occur as a result of the new investment. In a parallel path to achieving local ownership, KCEDA and the County have had productive discussions with multiple grocers about potentially occupying the space. KCEDA and the County will continue to work aggressively towards fulfilling this demand, and are optimistic about the prospect of getting a tenant.

About the Klamath County Economic Development Association (KCEDA)

Since 1975, KCEDA has reflected the best of private enterprise, responsibility and dedication. Its mission is to provide tailored recruitment and retention/expansion programs, new opportunities for jobs, and a diversified, value-added industrial base/expanded economic development climate in southern Oregon. Learn more at www.ChooseKlamath.com

CONTACT:

Rick Abel or Andrew Stork
Klamath County Economic Development Association (KCEDA)
541.882.9600