Bill Passes Reorganizing State’s Economic Development Efforts

The Oregon State Legislature has approved legislation (HB 2152) renaming the Oregon Economic and Community Development Department and refocusing its efforts to help existing Oregon businesses retain and create jobs as well as to build vital infrastructure in communities across the state.

Upon the signature of Gov. Ted Kulongoski, the department will be renamed the Oregon Business Development Department, also to be known as “Business Oregon.” Gov. Kulongoski proposed the reorganization of the department last year in an Executive Order with the goal of giving the agency a more strategic focus on the needs of existing Oregon businesses.

“I am very pleased that the department has completed its reorganization plan and received legislative approval,” said Kulongoski. “I recommended the changes so that the new Oregon Business Development Department can be even more effective in helping existing Oregon businesses create and save jobs. I look forward now to working closely with Business Oregon officials to do just that.”

Business Oregon Director Tim McCabe said the agency’s strategic aim will focus more intensely than ever on assisting existing Oregon businesses to create and retain jobs for Oregonians.

“The agency has a long, successful history of creating jobs and helping communities across the state,” McCabe said. “Now, more than ever, as we prepare to move out of the current recession, we will help Oregon businesses grow and compete in the 21st century economy.”

In addition, as part of the agency realignment, the department’s community development activities will now be administered separately by a newly formed Infrastructure Finance Authority (IFA). The IFA was created to ensure that the state’s infrastructure needs, namely those around safe drinking water and wastewater systems, were better identified and prioritized in order to ensure the best use of the state’s limited resources. The Authority will be overseen by members of an independent Infrastructure Finance Authority board appointed by the Governor.

The Oregon Business Development Department works to create, retain, expand and attract businesses that provide sustainable, living-wage jobs for Oregonians through public-private partnerships, leveraged funding and support of economic opportunities for Oregon companies and entrepreneurs. Visit www.oregon4biz.com for more information on doing business in Oregon.