Press Release

Rep. Tobias Read

State  Representative, District 27

For Immediate Release For More Information, Contact:

May 21, 2012                                                                          Tory Mallett 503-641-6800

Read Appointed to Oversee Economic Development

Newly formed Oregon Growth Board will support business, job growth

SALEM- Representative Tobias Read (D-Beaverton) will continue to lead efforts shaping Oregon’s economic development system. Oregon House Co-Speakers Arnie Roblan and Bruce Hanna designated Read an appointee to the newly formed Oregon Growth Board, which will oversee a more efficient, streamlined, and effective jobs and business growth program. The board was formed as a result of the passage of HB 4040, the Oregon Investment Act, which Read co-authored in the 2012 February legislative session.

“It’s a great opportunity to continue pushing Oregon’s economic growth to the next level. As the economy recovers we need to position our economy to grow and put people back to work. We need to do more to spur business growth, and we need to be more creative and innovative in how we do that work,” said Read.

“Passage of the Oregon Investment Act was an important step in refocusing our economic development work, but in many respects it was only a first step. The Oregon Growth Board will take the work to the next level,” Read said.

“We worked very hard in the February session to push for new and better ways to create jobs, spur business growth, and get Oregon on a path to economic vibrancy,” said Speaker Arnie Roblan (D-Coos Bay). “I know Tobias will continue driving that work forward.”

The Oregon Growth Board was a component of HB 4040, the Oregon Investment Act, which was among a series of jobs bills passed in the February 2012 legislative session pursuing innovative and cost effective ways to support Oregon businesses. HB 4040 included efforts to put all state economic development efforts in a single streamlined organization and was the product of months of outreach to community and business leaders around the state.

Read expressed his desired outcomes for the Growth Board in the coming months, saying, “Among other things, the Growth Board should manage loans to further economic development goals and approve incentives for Oregon employers investing in Oregon.”

“I expect it will also hold loans that earn interest for the state Education Stability Fund, working to leverage public and private investment, collaborating with local governments and the private sector to ensure we’re meeting the goals we all share,” he said.

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