OAR 123-016-0010: Definitions

For the purposes of these rules additional definitions may be found in Procedural Rules, OAR 123-001. The following terms shall have the following definitions, unless the context clearly indicates otherwise: (1) Business retention services means technical assistance provided by experts, as qualified by the department, focused on retaining the viable operation of an existing business in Oregon. The services include, but are not limited to the following types of assistance: (a) Assessment — initial evaluation to determine the extent of issues experienced by the business and the likelihood of the business’s viability. (b) Management consulting — identifying and solving problems including, but not limited to, management improvements, marketing problems, financial problems, equipment needs, productivity improvements, production control, cost and pricing systems, and/or ownership. (c) Feasibility study — a study conducted to analyze the feasibility of reopening, keeping open, or converting a business firm or a facility to another product, identify ownership possibilities, including employee ownership, and conduct an appraisal of the facility's assets to be purchased. (d) Conversion plan — a plan to convert a facility to a new product or enter a new market or convert a company's ownership structure, including an employee buy-out. (e) Transition plan — strategic and business plans to grow or alter a business operation, including, but not limited to, mergers and transitions to local owners. (f) Restructuring plan — plan for the acquisition of new equipment, technologies, management practices, sourcing solutions, and growth options focused on retaining the viable operation of an existing business in Oregon. (g) Any other type of technical assistance necessary to retain a business in Oregon, maintain Oregon employees, or assist an Oregon business to manage growth that will lead to the creation of new jobs in Oregon. (2) “Fund” means the Business Retention Fund.