Title 26A, Economic Development

The purposes of ORS 285B.178 and this section are to: (1) Ensure that microenterprises in Oregon are able to realize their full potential to create jobs, enhance entrepreneurial skills, expand entrepreneurial activity and increase the capacity of low income and very low income ho…

ORS 285B.178 and 285B.179 shall be known and may be cited as the Microenterprise Development Act. [2001 c.419 §1] Note: See note under 285B.178. CREDIT ENHANCEMENT FUND

As used in ORS 285B.200 to 285B.218: (1) “Brownfield” or “brownfields” has the meaning given that term in ORS 285A.185. (2) “Eligible project costs” includes productive equipment and machinery, working capital for operations and export transactions and such other costs as the Ore…

The Legislative Assembly declares that it is the purpose of the Credit Enhancement Fund to: (1) Create incentives and assistance to increase the flow of private capital to the value-added agriculture industries. (2) Promote industrial modernization and technology adoption. (3) En…

(1) The Oregon Business Development Department shall develop a program under which the department, under contracts with financial institutions, shall provide loan guarantees, insurance, coinsurance in conjunction with other providers of loan guarantee programs or other forms of c…

(1) When making loan or credit guarantees under the program established under ORS 285B.200 to 285B.218, the Oregon Business Development Department shall establish fees and other terms for loan or credit guarantees that are calculated to reasonably assure that businesses with acce…

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Credit Enhancement Fund. All moneys in the fund are continuously appropriated to the Oregon Business Development Department for the following purposes: (a) Payment of claims pursuant …

(1) The Oregon Business Development Department is authorized to pledge up to $75 million to assure the repayment of loan guarantees or other extensions of credit made to or on behalf of qualified businesses for eligible projects costs. (2) If the balances in the Credit Enhancemen…

As used in ORS 285B.230 to 285B.266, unless the context requires otherwise, “local economic development strategy” is a long-term economic development strategy, updated as required by the Oregon Business Development Department, that focuses on the economic development priorities o…

(1) The Legislative Assembly finds that local economic development activities and initiatives are essential to the state’s long-term prosperity and that to be effective, local economic development strategies must have the coordinated support of available resources. (2) The Legisl…

(1) The Oregon Business Development Department by rule shall adopt guidelines for submission of local economic development strategies and distribution of funds. (2) The guidelines shall provide that the local economic development strategies are approved in accordance with criteri…

(1) There is created a Local Economic Opportunity Fund, separate and distinct from the General Fund, to consist of all moneys credited thereto, including moneys from the Administrative Services Economic Development Fund, and all interest earned on the Local Economic Opportunity F…

(1) There is created a Strategic Reserve Fund, separate and distinct from the General Fund, to consist of all moneys credited thereto, including moneys from the Administrative Services Economic Development Fund, and all interest earned on the Strategic Reserve Fund. The fund is c…

As used in ORS 285B.280 to 285B.286, unless the context requires otherwise, “traded sector” means industries in which member firms sell their goods or services into markets for which national or international competition exists. [Formerly 285.765; 2005 c.835 §1]

The Legislative Assembly declares that it is the policy of the State of Oregon: (1) Working with private firms, industry associations and others, to encourage cooperative sector-based strategies to promote industrial competitiveness. (2) That programs to develop particular indust…

For traded sector industries, the Oregon Business Development Department shall undertake entrepreneurial and industry development activities that may include, but are not limited to, all of the following: (1) Focus groups and other meetings and related studies to identify traded …

The Industry Competitiveness Fund is established in the State Treasury, separate and distinct from the General Fund. The Industry Competitiveness Fund shall consist of all moneys credited to the fund, including moneys from the Administrative Services Economic Development Fund. In…

It is the purpose of ORS 285B.320 to 285B.371 to authorize the exercise of powers granted by ORS 285B.320 to 285B.371 by this state in addition to and not in lieu of any other powers it may possess. [Formerly 285.310; 1999 c.509 §29; 2001 c.680 §2; 2007 c.804 §72]

(1) As used in ORS 285B.320 to 285B.371, unless the context requires otherwise: (a) “Bond” or “revenue bond” means a revenue bond, as defined in ORS 286A.001. (b) “Capital asset” means real or personal property that the Oregon Business Development Commission expects to be: (A) Us…

(1) Upon determining that an economic development project is an eligible project, the Oregon Business Development Commission shall request that the State Treasurer issue the bonds. (2) For bonding purposes, the commission may treat any number of economic development projects dete…

(1) The state, acting through the State Treasurer, shall not undertake to finance any economic development project pursuant to ORS 285B.320 to 285B.371 before the Oregon Business Development Commission has reviewed the project. (2) The commission is not required to make the deter…

(1) In addition to any other powers granted by law or by charter, the Oregon Business Development Department may: (a) Enter into agreements to finance the costs of an eligible project by loaning or otherwise making available the proceeds of bonds authorized by ORS 285B.344 to a p…

In carrying out its duties under ORS 285B.320 to 285B.371, the Oregon Business Development Commission acting for and in behalf of the state as its duly authorized agency, may: (1) Acquire, construct and hold in whole or in part any lands, buildings, easements, water and air right…

Except as provided in ORS 285B.335 and 285B.338, the state does not have the power to operate any eligible project as a business or in any manner whatsoever, and except as provided in ORS 285B.335 and 285B.338, nothing in ORS 285B.320 to 285B.371 authorizes the state to expend an…

(1) At the request of the Oregon Business Development Department, the State Treasurer may issue under ORS 285B.320 to 285B.371 and ORS chapter 286A bonds secured by revenues from an eligible project or from other financing sources to finance or refinance in whole or part an eligi…

Bonds authorized under ORS 285B.320 to 285B.371 shall be issued in accordance with the provisions of ORS chapter 286A. [Formerly 285.360; 2007 c.783 §100]

The administrative expenses of the State Treasurer shall be charged against bond proceeds or project revenues. [Formerly 285.365]

The State Treasurer shall have the power, whenever the treasurer deems refunding expedient, to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or have not matured. The refunding bonds may be exchanged for bonds to be refunded and the proceeds …

The validity of bonds issued under ORS 285B.320 to 285B.371 shall not be dependent on nor be affected by the validity or regularity of any proceeding relating to the acquisition, purchase, construction, installation, reconstruction, improvement, betterment or extension of the eli…

The official action authorizing the issuance of bonds under ORS 285B.320 to 285B.371 to finance or refinance in whole or in part, the acquisition, construction, installation, reconstruction, improvement, betterment or extension of any eligible project may contain covenants, notwi…

(1) Revenue bonds issued under ORS 285B.320 to 285B.371: (a) Shall not be payable from nor charged upon any funds other than the revenue pledged to the payment thereof, nor shall the state be subject to any liability thereon. No holder or holders of such bonds shall ever have the…

Subject to any contractual limitation binding upon the holders of any issue of bonds, or any escrow agent, vendor, lender, other financing party or trustee therefor, including but not limited to the restriction of the exercise of any remedy to a specified proportion or percentage…

The state, acting through the Oregon Business Development Commission, may loan the proceeds of the bonds authorized by ORS 285B.320 to 285B.371 for eligible projects without the necessity of the state having any ownership or leasehold interest in the eligible projects. Loans made…

As used in ORS 285B.410 to 285B.482, unless the context requires otherwise: (1) “Airport” means: (a) A runway, taxiway, aircraft parking apron, ramp, auto parking area, access road, safety area or runway protection zone; (b) An airport-related facility, including a hangar, termin…

(1) The Legislative Assembly finds that: (a) The improvement, expansion and new construction of the state’s infrastructure systems provide the basic framework for continuing and expanding economic activity in this state, thereby improving the quality of life and economic opportun…

(1) The Oregon Business Development Department shall adopt rules and policies for the administration of the Special Public Works Fund. All forms of assistance are subject to the rules and policies of the department. (2) The Oregon Infrastructure Finance Authority shall manage the…

(1) The Oregon Infrastructure Finance Authority may provide financial assistance in the form of loans or grants for a levee project to: (a) Municipalities; (b) Corporations or companies for drainage or flood control organized under ORS chapter 554; and (c) For-profit or nonprofit…

(1) The Levee Project Grant Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Levee Project Grant Fund must be credited to the fund. The Levee Project Grant Fund consists of moneys deposited in the fund under section 33…

(1) The Oregon Infrastructure Finance Authority may provide financial or other assistance to a municipality for a development project. (2) The project must be municipally owned and operated either by the municipality or under a management contract or an operating agreement with t…

(1) The Oregon Infrastructure Finance Authority shall create a housing infrastructure financing program through which the authority may provide financial assistance, in the form of grants, loans or forgivable loans to a city, a county, a county service district organized under OR…

(1) The Housing Infrastructure Project Fund is established in the State Treasury, separate and distinct from the General Fund. (2) The Oregon Business Development Department may accept grants, donations, contributions or gifts from any source for deposit in the Housing Infrastruc…

Any municipality may apply for financial or other assistance from the Special Public Works Fund by submitting a completed application and related information as required by the Oregon Business Development Department by rule. The application shall be filed, reviewed and approved o…

(1) If the Oregon Infrastructure Finance Authority approves assistance from the Special Public Works Fund for a project, the authority, on behalf of the state, and the municipality may enter into a contract to implement the assistance. The contract shall include: (a) A provision …

(1)(a) The moneys in the Special Public Works Fund shall be used primarily to provide loans to municipalities for projects as defined in ORS 285B.410 to 285B.482. The Oregon Infrastructure Finance Authority may determine the level of grant or loan funding, if any, on a case-by-ca…

(1) If a municipality fails to comply with a contract entered into under ORS 285B.410 to 285B.482, the Oregon Business Development Department may seek appropriate legal remedies to secure any repayment due the Special Public Works Fund. If any municipality defaults on payments du…

(1) There is created the Special Public Works Fund, separate and distinct from the General Fund. Interest earned by the Special Public Works Fund shall be credited to the fund. All moneys credited to the Special Public Works Fund are appropriated continuously to the Oregon Busine…