Using lessons learned during the successful recruitment of Fisher Investments, the Columbia River Economic Development Council (CREDC) is claiming victory in the recruitment of Star Trac – an Irvine, California fitness equipment manufacturer and sister company of Vancouver-based StairMaster.
The two fitness companies recently consolidated and will be moving into their new 26,000-square-foot headquarters at 4400 N.E. 77th Avenue in Vancouver over the next couple of months.
The move, which will ultimately lead to the creation of 100 new jobs in Clark County, was facilitated by the CREDC along with the city of Vancouver and the Southwest Washington Workforce Development Council (SWWDC).
In a competitive environment where every penny counts, the CREDC worked with the Washington Department of Commerce to secure $100,000 from Governor Gregoire’s Strategic Reserve Fund to relieve some of Star Trac’s relocation costs.
“The consolidation of StairMaster’s California and Washington offices to Vancouver is a great success,” said Eric Fuller, board chair of the CREDC. “This is a globally recognized brand name in a billion dollar industry and the Governor’s support is evidence of her commitment in creating jobs.”
This isn’t the first time the CREDC has used state funds to help convince a California-based company to move to Southwest Washington. In 2007, Fisher Investments received a $250,000 grant for training staff support, customized services and relocation assistance.
“The requirement is that it creates jobs,” explained Jeanie Ashe, director of business recruitment at CREDC. “The company agrees that in return for the governor’s assistance they must create a certain amount of jobs. In the case of StairMaster it was 100 jobs.”
For the next five years, Ashe said annual reports from StairMaster will be sent to the governor’s office to make sure the funding requirements are met.
While the governor’s grant doesn’t equal a huge sum in terms of the company’s overall budget, Ashe said the funds definitely helped in the recruitment process.
“I’m not sure what their profits are, but it was enough to show StairMaster that we were serious about wanting them here,” she said. “It helped them make a decision quickly.”
Ashe said the CREDC will continue to look into California for companies that might be considering a move. However, she said the availability of state funds to help in the recruitment process is far from guaranteed.
“There’s not a whole lot of money available,” said Ashe. “We can always ask, but it’s a competitive grant process.”
