Bill > HB2411

This bill creates a new program to support industrial land development in Oregon by establishing the Industrial Site Loan Fund and providing financial assistance to project sponsors. The bill recognizes that traded sector industries are crucial for economic development and job creation, and addresses the shortage of market-ready industrial land in the state. It allows the Oregon Business Development Department to provide various forms of financial assistance, including loans, bond purchases, and forgivable loans, to public entities and private owners working to prepare industrial land for development. The financial assistance can cover a wide range of allowable costs, such as property acquisition, infrastructure improvements, environmental remediation, and planning activities. Project sponsors must apply through a formal process, and any financial assistance will be subject to a repayment plan that begins no later than seven years after project completion. The bill establishes detailed definitions for terms like "industrial land" and "industrial use," creates a comprehensive framework for evaluating and supporting projects, and sets up guidelines for how the loan fund will be managed, including provisions for investing funds, tracking repayments, and ensuring responsible use of state resources.

Budget and Finance, Business and Industry, Transportation and Infrastructure

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2411