Oregon Business Development Leaders Meet with Rep. Shields to Discuss Creating and Saving Oregon Jobs

Small Business Support Sent to Albina Community Bank

SALEM - Two of the state's top economic development officials today outlined their plans for helping Oregon businesses create and retain jobs while positioning the state to succeed in the post-recession, 21st century economy.

Oregon Economic and Community Development Commission member Carl Talton and Duncan Wyse, President of the Oregon Business Council met Wednesday with legislative leaders including Rep. Chip Shields.

"We want our legislative leaders to know about our emphasis on helping existing Oregon businesses create and retain jobs as well as our efforts to attract more investment into the state," said Talton.

Talton and Wyse discussed the recent success in Northeast Portland in support of microenterprise loans to small business owners there. In the last several years, two, $250,000 Strategic Reserve Fund grants were used to establish the Albina Community Bank's Microenterprise Loan Fund program. Between August 2005 and March 2008, the Bank awarded 63 loans - totaling $1,569,880 - helping to create 28 jobs and retaining another 250 jobs in the community. In June 2008, OECDD issued an additional $250,000 forgivable loan to the bank to develop the program into an ongoing community resource.

"Micro loans make a big difference" said Rep. Shields. "These targeted investments have helped build wealth and grow business in North and Northeast Portland." 

 
Talton and Wyse also echoed Governor Kulongoski's emphasis on producing a highly educated workforce and utilizing innovation to maintain Oregon's position as a recognized leader in the 21st century economy. In particular, they cited the department's role in attracting solar manufacturer Solaicx to North Portland in 2007 creating 135 jobs.

"Whether it is testing electric cars, building solar panels and wind farms or encouraging nanotechnology development, Oregon has already surged to the front of the pack when it comes to the nation's next wave of economic growth," said Wyse.

"Make no mistake," said Rep. Shields, "the economic recession will be very painful, but it won't last forever. I want to make sure that Oregon businesses and Oregon workers are ready to take advantage of new opportunities once the economy begins to take off again." 

 
"We have helped create and retain thousands of jobs across the state of Oregon," said Talton. "But now we must ensure existing Oregon businesses survive this economic storm and the state is well positioned to hit the ground running when it ends. To that end, our efforts will focus on making sure existing Oregon businesses sustain their competitive advantages."

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