2017 Oregon Revised Statutes
Volume : 07 - Public Facilities, Finance
Chapter 284 - Organizations for Economic Development
Section 284.742 - Grants and loans for innovation-based economic development; fees; rules.
(1) Subject to the approval of the Oregon Business Development Department, the Oregon Innovation Council may make grants and loans from the Oregon Innovation Fund created under ORS 284.720 to fund proposals that have as their principal objectives:
(a) The establishment of partnerships between and collaborations with research institutions and Oregon growth businesses for innovation-based economic development; or
(b) The transfer of innovation-based economic development technology to the private sector or the commercialization of innovation-based economic development research and related development in Oregon.
(2)(a) To qualify for a grant or loan under subsection (1) of this section, a proposal must be submitted to the Oregon Innovation Council in the manner and with a fee as may be prescribed by rule.
(b) All proposals for funding under subsection (1) of this section must establish return on investment criteria and performance measures as prescribed by rule.
(3) The Oregon Innovation Council shall make recommendations to the department for rules to be adopted by the department to administer the provisions of this section. [2011 c.610 §10]
