Business Oregon completed a successful Legislative session earlier this month, resulting in increased funding to the department's core programs and activities that support job growth and innovation. In particular, the department will be able to assist more companies with job creation opportunities through the Business Expansion Program and the Governor's Strategic Reserve Fund.

A new finance plan for building a headquarters hotel for the Oregon Convention Center has been laid out. The proposed hotel would be a 600-room Grand Hyatt Regency owned by the Chicago-based Hyatt Corp. The projected cost of the project is $200M which will come from various sources, including $117M from the Hyatt/Mortensen development team and $10M from state lottery bond proceeds.

Pacific City's Pelican Brewing Co. is opening a $1.4 million brewery in downtown Tillamook, thanks partly to a $150,000 forgivable loan from Gov. John Kitzhaber's office. The city of Tillamook's urban renewal agency also provided $200,000 in loans, half of that amount forgivable, to help finance the 17-year-old brewery's expansion on Front Street.

In a last-minute flurry of money bills, Oregon lawmakers approved more than $1B for construction projects, salary increases and university tuition reductions Monday before shutting down the 2013 Legislature. Legislation approved on the final day included money for a new or refurbished Multnomah County Courthouse, sidewalks in east Portland, and a convention center hotel in Portland.

The Northwest Energy Angels group revealed it is on pace to spend 33 percent this year on cleantech startups than it spent last year. The investors have poured more than $1.8M into 10 companies during the first half of the year, which is two-thirds of the full total invested in 2012 not counting institutional investments.

Tuesday, November 12, 2013 - Portland, Oregon
Join CDFA and Business Oregon for the first-ever Oregon Financing Roundtable Conference on November 12, 2013 as we focus on "Exploring Development Finance in the Beaver State". This one-day conference will feature a number of economic development finance experts and leaders from around the state discussing new development finance tools, resources, authorities, and approaches and how these methods can move Oregon's economy forward. Topics to be discussed include bonds, redevelopment, loan funds, innovation capital, tax credits, federal funding and much more.

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The Oregon Business Development Fund (OBDF) is a revolving loan fund administered by Business Oregon. The fund has received capitalization from the federal Economic Development Administration, the state General Fund, and the Oregon State Lottery. Projects that assist manufacturing, processing, distribution and other projects are eligible. The fund provides long–term, fixed–rate financing for land, buildings, equipment and machinery, and permanent working capital. Eligible borrowers are those whose products are sold in markets for which national or international competition exists.

In an effort to help states participating in the U.S. Department of the Treasury's SSBCI program, CDFA developed a number of technical assistance service options. CDFA's SSBCI Assessment Services provide a comprehensive, third party evaluation of your state's activities related to this important economic development program. This fee service offers an independent and unbiased review of your state's SSBCI programming.

Oregon Main Street works with communities to develop comprehensive, incremental revitalization strategies based on a community's unique assets, character, and heritage. Services are based on the successful Main Street Approach® developed by the National Trust for Historic Preservation and include training and technical assistance. Oregon Main Street provides assistance to all communities no matter where they are in the process. Currently, there are 78 communities participating.

This policy focus report explores the challenges of regenerating America's legacy cities - older industrial cities that have experienced sustained job and population loss over the past few decades. It identifies the powerful obstacles that stand in the way of fundamental change in the dynamics of these cities, and suggests directions by which cities can overcome those obstacles and embark on the path of regeneration.

Southern Oregon Regional Economic Development Inc. (SOREDI) is the official regional economic development agency for Southern Oregon. Named one of the top 20 economic development groups by site selection magazine, SOREDI acts as a liaison between private and public sectors. As presented in this area profile, the southern region is home to three Oregon certified sites, which are ready for construction within six months after being chosen for development.

The Oregon Business Development Fund (OBDF) is a revolving loan fund administered by Business Oregon. With this fund, the department considers purchasing a participation in a loan originated by another lender. This will allow the lender to make, secure and service the OBDF loan, thereby reducing paperwork and red tape for the borrower. The maximum loan participation is fifty percent of the lender's loan to a maximum of $700,000.

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Roundtable Sponsors

Interested in putting your organization in front of hundreds of economic development finance professionals in the state? Sponsor the 2013 CDFA Oregon Financing Roundtable in Partnership with Business Oregon.