Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Transportation And Economic Development topic
No spam. Unsubscribe anytime.
Business Oregon outlines incentives, recruitment and export support; strategic reserve fund remains limited
Summary
Deputy Director Chris Cummings outlined Business Oregon—s Business Innovation and Trade programs, focused on incentives, export assistance, recruitment and a small strategic reserve fund.
Deputy Director Chris Cummings presented the Business Innovation and Trade (BIT) section budget and described programs that support incentives, recruitment, global trade and regional development.
Cummings said the BIT section represents about 14% of the agency—s overall budget (excluding large federal CHIPS Act dollars awarded last session). He described the division—s work in incentives and recruitment, noting two recruitment officers and three global trade specialists who support export and foreign direct investment activities, often in partnership with regional development officers located across the state.
Nut graf: Cummings emphasized that Business Oregon focuses limited incentive resources on targeted industries that show regional supply‑chain fit and potential for traded‑sector job growth; the department uses a small Strategic Reserve Fund (SRF) to support some retention and recruitment efforts and plans to pilot a Small Business Sustainability Fund.
Cummings said the Strategic Reserve Fund is used selectively for retention, recruitment and expansions and that the program currently represents about $8 million for the biennium. He described the Business Expansion Program, which ties assistance to income‑tax generation under statute, and a Business Retention Services program that helps companies with operational improvements. Cummings said the department launched a Small Business Sustainability pilot funded from SRF to help small, key employers in rural communities with equipment or capital needs; the agency will seek $1 million to codify and expand the program.
On international trade and recruitment, the agency noted Mexico, Japan and Canada among top markets and said Oregon—s export profile has shifted, with Mexico cited as the top export market in 2024. Cummings and colleagues said they rely on overseas consultants rather than maintaining large permanent trade offices in many locations and indicated a request for additional funding to support in‑country consultants in markets such as Canada and Asia.
Ending: Cummings closed by saying the division leverages regional staff and local partners for recruitment and trade work; the committee paused the meeting and planned to resume other topics on Monday, March 17.
