A new era in Oregon innovation

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Martha Howard
5 years ago
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2 A new era in Oregon innovation Innovation & Entrepreneurship division launches in 2015 New assistant director hired in April 5 total staff positions + entrepreneur in residence Programs Oregon Innovation Council (Oregon InC) Oregon Growth Board (OGB) Regional Accelerator & Innovation Network (RAIN) Oregon Metals Initiative (OMI) Northwest Collaboratory for Sustainable Manufacturing (NWCSM)

innovation STEM/CTE University tech transfer Federal

Incubators and accelerators Small Business Development

coaches capital Oregon Growth Board Angel investors and

3 innovation STEM/CTE University tech transfer Federal grants (SBIR/STTR) Prototype support entrepreneurship Incubators and accelerators Small Business Development Centers Economic Development Districts Mentors and coaches capital Oregon Growth Board Angel investors and seed funds Venture capitalists and conferences Community capital

4 IMAGINE Every Oregon entrepreneur with easy access to the same, high-quality business development programming for every type of businesses at any stage of development no matter where they live or who they are accessed near where they live.

5 GOALS: Three Bold Strategies 1. Build Local Capacity 2. Develop and Deliver Programs on a Continuum 3. Unite Funders in one Oregon Strategy

6 Criteria for Success 1. Leverage existing assets in rural communities: buildings, partnerships, practical experience, local expertise and goals. 2. Integrate existing and new programs from across the state. Everyone can participate.

7 Develop Local Expertise Examples of what could be

8 A Thriving Entrepreneurial Ecosystem

9 PUBLIC PRIVATE PARTNERSHIPS High schools Colleges Universities Local State National Non-Profits Family Private Community Foundations Small Business Development Centers Economic Development Districts Local municipalities State Government Federal Government Industry and small business Citizens 9

10 FOCUS ON CAPITAL state funds Business Oregon Loans & Loan Guarantees Oregon Business Development Fund (OBDF) Oregon Capital Access Program (CAP) Oregon Credit Enhancement Fund (CEF) Oregon Industrial Development Bonds (IDB) Entrepreneurial Development Loan Fund (EDLF) 10

11 FOCUS ON CAPITAL state funds Aggie Bonds Business Expansion Program Business Retention Services Program Small Business Credit Initiative Oregon New Market Tax Credit Brownfields Redevelopment Western Juniper Industry Fund 11

12 FOCUS ON CAPITAL community funds Amy Pearl Founder and Executive Director Hatch Innovation 13

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14 Oregon Growth Board Angel investors and seed funds Venture capitalists and conferences Community capital 2

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19 Enabling Communities to Invest in Themselves

20 1. Debt to Equity 2. Intrastate law, registered in Oregon 3. Business can raise up to $250, Investor can invest $2,500 per deal, per person, per business months to raise the funds 6. Only Oregonians can invest 8

22 1. Built investing platform: Hatchoregon.com 2. Raised nearly $430, Close to twenty companies 4. Three successes so far. 5. Average investment $1,000; 50% women. 6. Over 360 brand new ordinary investors. 10

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24 1. Intro to the CPO week Accelerator 3. Partnership with Oregon SBDC Network 12

25 1. Entrepreneur must meet in person with a Technical Service Provider to review the business plan. 2. Business writes the Offering. 3. InvestOR Meetups build Investor Education 13

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28 Nearly a billion dollars just in Oregon 16

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31 What could we do together?

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33 FOCUS ON CAPITAL Federal funds Vicki Walker Oregon State Director USDA Rural Development 12

34 USDA Rural Development Vicki L. Walker Oregon State Director 2016 Oregon Brownfields Conference

35 USDA Departments within USDA Rural Development Center for Nutrition Policy and Promotion Agricultural Marketing Service Farm Service Agency Economic Research Service Grain Inspection, Packers and Stockyards Administration Natural Resources Conservation Service Food and Nutrition Service National Agricultural Library Forest Service Food Safety and Inspection Service National Agricultural Statistics Service Agricultural Research Service Foreign Agricultural Service National Institute of Food and Agriculture Animal and Plant Health Inspection Service Center for Nutrition Policy and Promotion Rick Management Agency

USDA s Rural Development Mission Area Program Areas Rural Housing & Community Facilities Rural Utilities

Multi-Family Housing Loans Housing Preservation Grants Community Facility Loans & Grants Electric Program

Business & Industry Guaranteed Loans Rural Business Enterprise Grants Rural Business Opportunity Grants

36 USDA s Rural Development Mission Area Program Areas Rural Housing & Community Facilities Rural Utilities Service Homeownership Loans Home Repair Loans & Grants Mutual Self-Help Technical Assistance Grants Multi-Family Housing Loans Housing Preservation Grants Community Facility Loans & Grants Electric Program Water & Environmental Programs Telecommunications & Broadband Programs Rural Business & Cooperative Service Business & Industry Guaranteed Loans Rural Business Enterprise Grants Rural Business Opportunity Grants Intermediary Relending Program Rural Energy for America Program Value Added Producer Grants Cooperative Development Assistance

37 Investments in Rural Oregon Homeownership: $327.9 million Multi-Family Housing: $252.2 million Water and Environmental: $185 million Community Facilities: $60.1 million Telecommunications: $75.4 million Rural Electric Programs: $101.8 million Business & Cooperative Programs: $327.9 million

38 Rural Development Funding for Brownfields Remediation must be completed with the involvement of and to the standards set by the Department of Environmental Quality (DEQ). National Environmental Protection Act (NEPA) environmental assessment and impact statement process required.

39 Business Programs Business & Industry Guarantee Loans Brownfields: Funding possible for rural businesses being constructed on a brownfield site. Bolsters the existing private credit structure by guaranteeing loans for rural businesses, allowing private lenders to extend more credit. Applicants are eligible lenders. Lenders may request a guarantee for borrowers that include for-profit businesses, nonprofits, cooperatives, federally recognized tribes, public bodies, and individuals.

40 Business Programs Rural Business Development Grants Brownfields: Technical assistance and remediation of where a business is located or will be located. Grants for technical assistance, training, and other activities leading to the development or expansion of small private businesses in rural areas. Business must have fewer than 50 employees and less than $1 million in gross revenues. Eligible applicants include but not limited to towns, state agencies, nonprofits, federally recognized tribes, institutions of higher education, and rural cooperatives

41 Business Programs Revolving Loan Fund Programs Brownfields: Intermediary lenders may choose to fund projects located on brownfield sites. Provides low-interest loans to local intermediaries that re-lend the money for business development in rural areas. Intermediary Relending Program: intermediaries may typically lend up to $150,000 and 75% of the project cost to an ultimate recipient. Rural Microentrepreneur Assistance Program: Provides funding to Microenterprise Development Organizations for microenterprise startup and expansion.

42 Community Facilities Program Brownfields: Some remediation costs Loans for construction or renovation of essential community facilities and/or purchase and installation of necessary equipment; grants as part of a financing package in low-income, highneed communities Facilities may include emergency services, health care, public buildings, shelters Applicant must be a public body, nonprofit, or tribe Project must serve a rural area or community of less than 20,000 people

43 Water & Environmental Programs Brownfields: Some remediation costs Technical assistance and financing for rural communities to develop drinking water and waste disposal systems. Applicant must be a public body, nonprofit, or tribe Project must serve a rural area or community of fewer than 10,000 people

44 Multi-Family Housing Programs Brownfields: Apartments constructed on brownfield sites Financing for the development/renovation of affordable rental housing in rural areas (low- and very-low-income) Rental assistance for qualified very-low income residents of USDA-financed apartment complexes (keeps rent at no more than 30% of renter s monthly income)

45 Multi-Family Housing Programs Astoria Gateway Apartments 32-unit apartment complex for low-income families constructed on an old lumber mill site Rural Development provided $1 million loan for apartment construction

46 For more information Rural Development: USDA is an equal opportunity provider, employer, and lender. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC or call (866) (Toll-free Customer Service), (800) (Local or Federal relay), (866) (Relay voice users).

USDA Rural Development WASHINGTON 2015 PROGRESS REPORT

USDA Rural Development WASHINGTON 2015 PROGRESS REPORT Rural Housing and Community Facilities Programs Single-Family Housing Direct s (including Self-Help s) Single-Family Housing Single-Family Repair