(2) The Business Retention Fund is created separate and distinct from the General Fund. The fund shall be administered by the Oregon Business Development Department. The fund may be credited with contributions of moneys from public and private sources and with repayments as provided in this section. Interest earned by the fund shall be credited to the fund.
(3)(a) The department may allocate moneys in the fund for the following purposes:
(A) Business retention service;
(B) Employee ownership;
(C) Community response to plant closures or community distress, or both; and
(D) Feasibility studies, transition plans or restructuring plans.
(b) The department shall establish the maximum percentage of the fund that may be allocated for the purposes described in paragraph (a) of this subsection and a minimum match requirement, if any.
(4) The department may grant, expend or loan moneys in the fund for financial assistance, feasibility studies, transition plans, restructuring plans, technical assistance and management consulting services for business firms in transition, troubled firms that may close without assistance, for troubled firms that are experiencing major layoffs or firms that have actually closed or announced closure, and for communities that are experiencing distress due to the business closures, under such terms and conditions as the department may determine.
(5) The department shall provide that firms receiving assistance repay to the Business Retention Fund any assistance provided under subsection (4) of this section. When the department sets repayment terms for a firm receiving assistance, the department shall consider the financial ability of the firm to repay assistance.
(6) In providing assistance from the Business Retention Fund, the department may give preference to Oregon’s rural and distressed areas and its traditional agriculture, forestry and fishing industries. The department may also give priority to areas including but not limited to emerging industries and industry clusters with high potential for job retention and creation and market growth, as well as traded sector firms competing in markets for which regional, national or international competition exists.
(7) The department shall adopt by rule specific criteria for expenditure of moneys from the Business Retention Fund. [Formerly 285.120; 1999 c.509 §11; 2003 c.773 §4; 2007 c.804 §12; 2009 c.830 §27]
Structure 2021 Oregon Revised Statutes
Volume : 07 - Public Facilities and Finance
Chapter 285A - Economic Development I
Section 285A.010 - Definitions for ORS 284.101 to 284.148 and ORS chapters 285A, 285B and 285C.
Section 285A.045 - Duties and functions of commission; exercise of commission powers; rules.
Section 285A.050 - Biennial report; content.
Section 285A.055 - Prerequisites for certain commission actions.
Section 285A.060 - Advisory and technical committees.
Section 285A.075 - Department duties; rules; contract authority; foreign trade offices.
Section 285A.083 - Authority to require fingerprints for criminal records check.
Section 285A.091 - Oregon Infrastructure Finance Authority Board; members; terms; quorum.
Section 285A.093 - Board duties; rules.
Section 285A.096 - Oregon Infrastructure Finance Authority; duties; staff.
Section 285A.101 - Administrator; powers; rules; staff.
Section 285A.103 - Oregon Infrastructure Finance Fund; sources; uses; rules.
Section 285A.116 - Regions for job development; economic innovation coordination.
Section 285A.143 - Sister State Committee; membership; term.
Section 285A.145 - Sister State Committee authority.
Section 285A.148 - Oregon-China Sister State Committee; membership; term.
Section 285A.152 - Oregon-China Sister State Committee authority.
Section 285A.157 - Oregon Broadband Advisory Council Fund; sources of funds.
Section 285A.160 - Biennial report.
Section 285A.166 - Oregon Broadband Office; duties.
Section 285A.185 - Brownfields redevelopment; department duties; rules.
Section 285A.190 - Oregon Coalition Brownfields Cleanup Program; loans and grants; rules.
Section 285A.192 - Oregon Coalition Brownfields Cleanup Fund; sources; uses.
Section 285A.193 - Definitions.
Section 285A.195 - Application process.
Section 285A.196 - Documentation required for forgiveness; repayment for noncompliance; cure.
Section 285A.197 - Rulemaking for administration of loan program.
Section 285A.198 - Oregon Brownfield Properties Revitalization Fund.
Section 285A.200 - Gifts; federal aid; fees.
Section 285A.206 - Department to prepare financial statements; contents; reporting period.
Section 285A.213 - Safe Drinking Water Revolving Loan Fund; administration; sources; uses.
Section 285A.224 - Business Retention Fund; purpose; administration; uses; rules.
Section 285A.227 - Oregon Business, Innovation and Trade Fund; uses; sources; rules.
Section 285A.230 - University Innovation Research Fund; grants.
Section 285A.240 - Legislative findings.
Section 285A.303 - Findings; purpose.
Section 285A.325 - Foreign trade zones; operators of zones.
Section 285A.328 - Specific corporation authorized to maintain foreign trade zone.
Section 285A.340 - Legislative findings; declaration of policy.
Section 285A.349 - Evaluation of effectiveness of assistance.
Section 285A.420 - Legislative findings.
Section 285A.422 - Definitions for ORS 285A.420 to 285A.435.
Section 285A.430 - Revenue bonds to finance agricultural projects.
Section 285A.435 - Beginning and Expanding Farmer Loan Program Fund.
Section 285A.510 - Definitions for ORS 285A.510 to 285A.522.
Section 285A.522 - Annual report of plant closings and layoffs; contents.
Section 285A.654 - Port Planning and Marketing Fund; uses; sources; investment.
Section 285A.657 - Grants; purposes; application; eligibility; standards; prohibited funding.
Section 285A.660 - Funding priorities; port strategic business plans; rules.
Section 285A.666 - Definitions for ORS 285A.666 to 285A.732.
Section 285A.672 - Review of application; fee.
Section 285A.678 - Qualifications for approval of project funding.
Section 285A.681 - Loan from fund; required contract terms; repayment plan; rules.
Section 285A.687 - Filing of lien against port; notice of satisfaction.
Section 285A.690 - Powers to enforce loan agreement.
Section 285A.702 - Funds for joint projects or match money; form of application.
Section 285A.705 - Loan contract; required provisions.
Section 285A.708 - Oregon Port Revolving Fund; uses; sources; debt limit; prohibited use.
Section 285A.709 - Transfers to Port Planning and Marketing Fund.