OAR 123-089-0030: Objectives, Priorities and Programs

(1) The objectives of the Fund are to support early-stage, traded-sector companies diversify Oregon's economy, bring federal and private dollars into the state, increase revenues and create new jobs. Oregon InC is a public-private partnership that advises the Department on how best to design programs and provide funding to accomplish the Fund’s objectives. Oregon InC will identify certain industry sectors as priorities for the programs and funding. Moneys in the Fund are deployed via programs that are described in subsequent sections. (2) The Department and Oregon InC will dedicate the Fund to one or more programs that support the Fund’s objectives. These programs may provide funding as grants, loans or investments. All programs will be designed and administered in accordance with applicable statutes and these rules and are primarily intended to support implementation of the agency’s innovation plan. (3) Oregon InC will periodically evaluate industry focus areas to determine if the list remains appropriate or needs adjustment based on current conditions. Similarly, Oregon InC will periodically evaluate programs supported by the Fund to determine if they continue to meet the Fund’s objectives or require changes to, additions of or cancellation of programs to achieve those objectives. Subsequent sections describe the major Oregon InC programs.