Title 26A, Economic Development

(1) Revenue bonds issued under ORS 285B.575: (a) Shall not be payable from nor charged upon any fund other than the revenue pledged to the payment of the revenue bonds, except as provided in this section, nor shall the state be subject to any liability on the bonds. No holder of …

(1) Any loan of moneys to a municipality by the state shall include a plan for repayment by the municipality of moneys borrowed from the Water Fund for a water project and interest on those moneys at a rate expressly specified. The repayment plan: (a) Shall provide for evidence o…

The Oregon Infrastructure Finance Authority may: (1) Make all contracts, execute all instruments and do all things necessary or convenient for the exercise of the powers granted by this section, or for the performance of its covenants or duties, or in order to secure the payment …

(1) Proceeds of revenue bonds issued and sold under ORS 285B.572 to 285B.578 that are to be used to fund loans to municipalities for water projects shall be deposited in the Water Fund. (2) Proceeds of revenue bonds issued and sold under ORS 285B.572 to 285B.578 that are to be us…

In addition to making loans to municipalities for water projects, the Oregon Infrastructure Finance Authority may provide any other form of financial or other assistance that the authority may consider appropriate to assist municipalities with water projects, including direct pur…

Out of the moneys in the Water Fund, the Oregon Infrastructure Finance Authority may make technical assistance grants and loans to municipalities as specified by the Oregon Business Development Department by rule. Technical assistance grants and loans shall be for the purpose of …

Not less than 60 percent of the grants awarded from the Water Fund shall be used to provide assistance to distressed area or nonurban water projects. [Formerly 285.966; 2001 c.883 §39b; 2003 c.773 §52]

(1) If a municipality fails to comply with a contract entered into under ORS 285B.581, the Oregon Business Development Department may seek appropriate legal remedies to secure any repayment due the Water Fund. If any municipality defaults on payments due the fund, the State of Or…

As used in ORS 285B.600 to 285B.620: (1) “Certified employer” means an eligible employer certified under ORS 285B.605. (2) “Compensation” has the meaning given that term in ORS 314.610. (3) “Eligible employee” means a new full-time employee who is paid qualifying compensation and…

The Oregon Business Development Department may adopt rules that the department determines are necessary to: (1) Further define the terms defined in ORS 285B.600 in a manner consistent with ORS 285B.600; (2) Implement the duties of the department under ORS 285B.600 to 285B.620; an…

(1) Subject to standards and procedures that the Oregon Business Development Department shall establish by rule, the department shall certify eligible employers to participate in the Oregon Business Retention and Expansion Program established in ORS 285B.615. The department may e…

(1) An employer may apply to the Oregon Business Development Department for certification under ORS 285B.605. (2) The application shall be made in writing in a form prescribed by the department. (3) The application must include a verified statement by the employer that the employ…

(1) The Oregon Business Development Department may revoke a certificate issued under ORS 285B.605 if the department finds that: (a) The certificate was obtained by fraud or misrepresentation; or (b) The certified employer fails to meet the requirements of ORS 285B.605. (2) If the…

(1) In consultation with the Department of Revenue, the Oregon Business Development Department shall establish and administer the Oregon Business Retention and Expansion Program. The purpose of the program is to provide forgivable loans to certified employers to allow for expande…

The Director of the Oregon Business Development Department, in consultation with the Director of the Department of Revenue, shall: (1) Specify the methodology for estimating incremental Oregon Business Retention and Expansion Program tax revenues; and (2) Estimate incremental Ore…

The Oregon Business Retention and Expansion Program Fund is established in the State Treasury, separate and distinct from the General Fund. The Oregon Business Retention and Expansion Program Fund consists of amounts deposited in the fund as required by section 9, chapter 549, Or…

(1) The Oregon Business Development Department may transfer moneys credited to the Strategic Reserve Fund created under ORS 285B.266 to the Oregon Business Retention and Expansion Program Fund established under ORS 285B.620, to be used for the purpose of making the loans provided…

The Legislative Assembly finds that: (1) Traded sector industries are the foundation of state and regional economic development strategies for long-term prosperity and job creation. Because traded sector jobs typically pay higher than average wages and generate higher than averag…

As used in ORS 285B.625 to 285B.632: (1) “Eligible employer” means an employer that: (a) Is conducting a traded sector business on a regionally significant industrial site; and (b)(A) With respect to the employer’s establishment at a rural site, has increased average annual emplo…

(1) In consultation with the Department of Revenue, the Oregon Business Development Department shall establish and administer the Oregon Industrial Site Readiness Program. The purpose of the program is to: (a) Enter into tax reimbursement arrangements with qualified project spons…

(1) On or before April 1 of each tax year following the first tax year in which an employee of an eligible employer on a regionally significant industrial site designated under ORS 285B.627 will be required to pay personal income taxes under ORS chapter 316, the Oregon Business D…

The Oregon Industrial Site Readiness Program Fund is established in the State Treasury, separate and distinct from the General Fund. The Oregon Industrial Site Readiness Program Fund consists of amounts deposited in the fund and other moneys transferred to the fund, including but…

The Legislative Assembly finds that: (1) A competitive supply of market-ready regionally significant industrial sites is critical to the expansion and recruitment of traded sector industries in this state. (2) Traded sector industries are the foundation of state and regional econ…

As used in ORS 285B.635 to 285B.640: (1) “Due diligence assessment” means an assessment of the actions, costs and time frames involved in bringing regionally significant industrial sites to market-ready status, including but not limited to wetland delineation, geotechnical invest…

(1) The Oregon Business Development Department shall establish and administer the Oregon Industrial Site Readiness Assessment Program. The purpose of the program is to provide grants on a competitive basis from funds that are available in the Oregon Industrial Site Readiness Asse…

The Oregon Industrial Site Readiness Assessment Program Fund is established in the State Treasury, separate and distinct from the General Fund. The Oregon Industrial Site Readiness Assessment Program Fund consists of moneys appropriated, allocated, deposited or transferred to the…

The Legislative Assembly finds that the implementation and administration of the Oregon Industrial Site Readiness Assessment Program under ORS 285B.635 to 285B.640 will further economic development by facilitating the development of regionally significant industrial sites that ar…

As used in ORS 285B.651 to 285B.676, unless the context clearly requires another meaning: (1) “City” means a city, town or other community located in this state with a population of 2,500 or less. (2) “District association” means Oregon’s Economic Development Districts, an organi…

(1) The Oregon Business Development Department shall distribute moneys in the Oregon Rural Capacity Fund established under ORS 285B.676 to provide resources to Oregon’s Economic Development Districts for the purposes of assisting rural jurisdictions to learn about, successfully a…

The Oregon Business Development Department shall: (1) Develop the policy guiding the implementation of ORS 285B.651 to 285B.676. (2) Communicate the policy and the purposes set forth in ORS 285B.655 to underserved rural jurisdictions. (3) Determine the amount of moneys available …

solutions advisory committees; quarterly reports; member district hiring authority. (1) This section applies to a member district that receives moneys pursuant to ORS 285B.655. (2)(a) The member district shall expend the moneys solely to provide grant writing, grant administratio…

(1) Not later than September 15 of each year, the Oregon Business Development Department shall provide a brief report, in the manner required under ORS 192.245, to the interim committees of the Legislative Assembly related to economic development, that describes the activities th…

(1) The Oregon Rural Capacity Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Oregon Rural Capacity Fund shall be credited to the fund. (2) Moneys in the fund consist of: (a) Amounts appropriated or otherwise transfer…

It is the intent of the Legislative Assembly that in the administration of ORS 285B.740 to 285B.758, the Oregon Business Development Department work closely with regional economic development organizations, community development corporations, small business development centers an…

(1) Any individual or business firm may file with the Oregon Business Development Department an application to borrow money from the Oregon Entrepreneurial Development Loan Fund as provided in ORS 285B.740 to 285B.758. The application shall be filed in such a manner and contain o…

(1) The Oregon Business Development Department may approve a loan requested in an application filed under ORS 285B.743 if, after investigation, it finds that: (a) The applicant is enrolled in a small business management program with a small business development center or certifie…

(1) The Oregon Business Development Department may approve an entrepreneurial development loan under ORS 285B.740 to 285B.758 if, after investigation, it finds that: (a) The loan has a reasonable prospect of repayment from cash flow and collateral and is secured by good and suffi…

(1) Beginning with the 2023 calendar year, the Oregon Business Development Department shall annually adjust the annual revenue limit amount specified in ORS 285B.746 (2)(a) and the total loan limit amount specified in ORS 285B.749 (2) by multiplying each amount by the percentage …

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Oregon Entrepreneurial Development Loan Fund. All moneys in the fund are continuously appropriated to the Oregon Business Development Department for the following purposes: (a) Admini…

As used in ORS 285B.760 to 285B.763: (1) “Culturally responsive services” means services provided by an organization: (a) Whose founding mission and goals are aligned with the culture of the individuals, families, businesses and communities receiving the services; and (b) That de…

(1) The Oregon Business Development Department shall develop and implement an Economic Equity Investment Program under which the department shall award grants to organizations that provide culturally responsive services to support economic stability, self-sufficiency, wealth buil…

(1)(a) The Oregon Business Development Department shall conduct biennial evaluations of the services provided in the preceding 24-month period by organizations that are funded with grant moneys under the Economic Equity Investment Program developed and implemented under ORS 285B.…

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Economic Equity Investment Fund. Interest earned by the Economic Equity Investment Fund shall be credited to the fund. (2) All moneys in the fund are continuously appropriated to the …

As used in ORS 285B.764 to 285B.775: (1) “Eligible business” means one of the following businesses as defined in ORS 200.005 that is operated for profit and has been certified by the Certification Office for Business Inclusion and Diversity under ORS 200.055 at the time an applic…

(1) The Oregon Business Development Department shall develop and implement a program to make loans to eligible businesses. (2) Loans made under the program may be for the following amounts: (a) For eligible businesses that have operated for less than two years, up to $100,000. (b…

(1) The Oregon Business Development Department shall prescribe the form and manner in which the owner of an eligible business may apply for a loan under the loan program developed and implemented under ORS 285B.768. (2) The application must, at a minimum, require the inclusion of…

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Disadvantaged and Emerging Small Business Loan Fund. All moneys in the fund are continuously appropriated to the Oregon Business Development Department for the purposes of: (a) Paying…

(1) On or before September 15 of each year, the Oregon Business Development Department shall submit, in the manner provided in ORS 192.245, to the interim legislative committees related to economic development, a report containing the following information about the loan program …

It is the purpose of ORS 285B.780 to 285B.799 that the State of Oregon shall make awards to qualified lending institutions to fund lenders’ loan loss reserve accounts for the purpose of increasing lending to business owners and entrepreneurs who currently lack access to capital t…

As used in ORS 285B.780 to 285B.799, unless the context requires otherwise: (1) “Loan loss reserve account” or “account” means an account created by a lender for the deposit of moneys awarded to the lender under ORS 285B.787 out of which the lender may reimburse itself for losses…