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, earned a bachelor’s degree from Willamette University, and is currently pursuing his MBA at Willamette University. He has worked in real estate and served on the Salem-Keizer school board.
“I strongly believe in small businesses because they drive our local economy.” Lippold Peone III stated, “We have a great opportunity, and we are focused on providing them with information, being accessible, and offering our free newspaper online. The Salem Business Journal is the Willamette Valley’s trusted local source of 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.
“This is an opportunity to do positive things in the community, bring people together, and empower voices that haven’t been heard before,” said Castro Monroy. “We want to continue driving change in the business community.”
Another area they hope to expand is their online presence and social media. The goal is to reach as many people as possible.
“One of the strategies is to create an online platform and infrastructure,” said Castro Monroy. “The website is already live. We will begin expanding social media and strengthening our online presence.”
The SBJ was originally founded by Bruce Taylor, a local businessman from the Salem area and a strong advocate for local small businesses. The first issue was published in June 2005, and Taylor recently retired in 2021. “I’m thrilled for Jonathan and Jesse. The SBJ is in good hands; they’re 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.
“Readers don’t have to pay anything to read our articles, which eliminates any barrier to entry,” said Lippold Peone III. “The print version will be in English, but the website will be available in several languages, including Spanish, Russian, and 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 reach of the Salem Business Journal,” Castro Monroy said. “There are many opportunities. Bruce had an excellent performance and laid a solid foundation, but it’s up to us to build on that foundation and take the publication to the next level.”
