Central Oregon Economic Development Programs
Learn about the economic development incentives and business financing options available across Central Oregon. EDCO’s team of experienced professionals are here to help your business find the programs that are right for you.
Business Expansion Program (BEP)
The Oregon Business Expansion Program (BEP) is a cash-based incentive program based on the estimated increase in income economic development incentives revenue as a result of new hires from the expansion or relocation of a project. Funding is available to existing companies expanding operations in Oregon or new companies coming into the state.
Construction-in-Process Tax Abatement
Commercial and non-utility facilities can be exempt from property taxes while under construction and not in use on January 1 of the assessment year, for up to two years. File this application with the county assessor on or before April 1.
Deschutes County Economic Development Loan Program
The Deschutes County Business Development Forgivable Loan Fund and City of Bend Business Development Forgivable Loan Fund disburse moneys for the purpose of increasing employment and capital investment with each respective jurisdiction. The Fund has been established to offset the costs of business relocation to and within Deschutes County, including moving of equipment, purchase or construction of facilities, and site improvements such as the extension of public services and utilities. EDCO has been designated by Deschutes County and City of Bend as the administrator of this fund. The magnitude of funding is dependent on job creation (typically $1,000-$2,000 per job).
Enterprise Zones
An enterprise zone is a designated geographic area where businesses can receive special tax incentives and regulatory relief to encourage economic development, job creation and investment. Benefits to businesses in an enterprise zone can include reduced property taxes, credits for hiring local workers and exemptions from certain state and local taxes, making them attractive for companies looking to expand or relocate. EDCO manages enterprise zone programs in Deschutes, Crook and Jefferson counties. Contact an EDCO Area Director for more information.
Food Processor Property Tax Exemption
The Oregon Legislature reinstated the property tax exemption in 2013 for certain types of property acquired and installed by Oregon food processors (ORS 307.453) by the passage of House Bill 2735. The program allows food processors to request a property tax exemption for qualified property machinery and equipment, and personal property.
Immediate Opportunity Fund
The Immediate Opportunity Fund program supports economic development through roadway improvements and provides funds to Cities and Counties in order to respond quickly to economic development opportunities.
On-the-Job (OJT) Training Grant
A cash reimbursement for on-the-job training for specific employer-needed skills. Employers can receive up to a 50% reimbursement for a new employee's wage, up to $21.00 per hour while training up to 400 hours.
Opportunity Zones
Opportunity Zones aim to stimulate economic development and job creation by incentivizing long-term investments in low-income communities. This initiative offers tax advantages on capital gains, including future gains, to encourage sustained private sector investment in these areas.
Oregon Energy Trust
Oregon Energy Trust assists businesses in accomplishing energy-saving and renewable energy projects. Businesses can benefit from rebates and tax credits when pursuing energy-efficient initiatives.
Oregon Export Promotion Program
The Oregon Export Promotion Program is a matching grant that reimburses 75% of eligible expenses up to $10,000. This program is funded in part by the U.S. Small Business Administration and is available to Oregon small businesses looking to grow or begin international sales.
Oregon Investment Advantage (OIA)
The Oregon Investment Advantage is a 10-year taxable income exemption for a certified business in eligible locations. It can often be combined with property tax abatement programs. Companies setting up operations in an eligible county can be certified as many as 10 consecutive times to annually deduct or subtract taxable income related to those operations, potentially eliminating any state business income tax liability for that period.
Oregon State Energy Loan Program (SELP)
Oregon’s Energy loan program offers fixed-rate, long-term loans for qualified projects in energy conservation, renewable energy, alternative fuels, or created products from recycled materials. SELP loans have gone to tribes, businesses, local governments, state agencies, nonprofits, schools, and farms.
Rural Renewable Energy Development Zone (RREDZ)
The Rural Renewable Energy Development Zone (RREDZ) is a tax incentive program designed to encourage investment in renewable energy projects in rural areas of Oregon. It allows property owners or businesses to receive a temporary property tax exemption for the construction or installation of renewable energy systems. This program is only available in unincorporated areas of Deschutes and Crook County.
Special Public Works Fund
The Special Public Works Fund is a fund that provides low-cost financing and grants to eligible municipalities for planning, design, and construction of utilities and facilities essential to industrial growth, commercial enterprise, and job creation. The loans provided by the Special Public Works Fund are often a critical source of economic development funding for municipalities, and local governments throughout the state.
Strategic Investment Program (SIP)
The Strategic Investment Program (SIP) offers a 15-year property tax exemption on a portion of large capital investments by traded-sector businesses.
Urban Renewal
Bend, Redmond, Madras, and La Pine / Sunriver Urban Renewal Agencies support local businesses with resources to help them succeed. Urban renewal areas use Tax Increment Financing (TIF) to reinvest or rebuild parts of cities that are physically deteriorated, economically stagnated, unsafe, or where the old urban layout no longer works. Contact a respective EDCO area director to learn more.
Bend Venture Conference (BVC)
BVC showcases innovative startups and connects entrepreneurs with investors and mentors. There are three categories of competition: Growth Stage, Impact and Early Stage. Applicants can apply from anywhere, as long as they commit to presenting in Bend, Oregon, for the conference.
Business Oregon - Fund a Business
Business Oregon provides financial support and resources to foster growth in small businesses and Oregon communities. It offers a range of funding tools, including limited grant programs for businesses and communities. Its services include export assistance grants for small businesses and various community development grants.
Business Oregon - Oregon Credit Enhancement Fund (CEF)
The Oregon Credit Enhancement Fund (CEF) is a loan insurance program available to eligible banks and credit unions to assist businesses in obtaining access to capital. The fund insures the repayment of loans made by lenders that provide working capital or fixed-asset financing to businesses.
Business Oregon - Oregon Royalty Fund (ORF)
Business Oregon’s newest financing option allows businesses to pay a periodic royalty payment as a percentage of sales to accommodate growing companies that do not qualify for traditional financing.
COIC Business Loan Program
COIC’s business loan programs provide financing packages for new and existing businesses. By using a COIC loan, a bank or credit union may be able to make a loan that could not be made otherwise. In some cases, projects can be financed exclusively by COIC, without a companion bank loan. For most businesses, the best place to start is with a bank loan officer. If a bank is unable to meet financing needs, contact COIC loan officers for information on COIC financing options.
Cascade Seed Fund
Initial investments are made at the pre-seed and seed stage ranging between $100,000-$250,000. Emphasis is on a member of the founding team located in the Pacific Northwest. Over 80% of CSF investments are post-revenue.
Central Oregon Intergovernmental Council (COIC)
Central Oregon Intergovernmental Council (COIC) offers community and economic development services, workforce skills training programs and financial assistance through business loans and grants.
Commercial Property Assessed Clean Energy (CPACE) Program
The CPACE program allows owners of eligible commercial property to obtain long-term, low-interest rate financing from private capital providers for certain qualified projects. Eligible properties may include any privately-owned commercial, industrial, agricultural, or multi-family (with five or more dwelling units) real property.
Craft3
Craft3 is a nonprofit community development financial institution that provides capital to business, homeowners, nonprofits, and communities. It provides term loans for startups and expanding small businesses.
Elevate Capital
Elevate Capital is the nation’s first institutional venture capital fund that specifically targets investments in underserved entrepreneurs—such as women and ethnic minorities, or those with limited access regionally to capital and opportunities. Elevate Capital supports visionaries with disruptive ideas and products through two specialized investment vehicles.
Entrepreneurial Development Loan Fund
Created by the Oregon Legislature in 1991, the Entrepreneurial Development Loan Fund provides direct loans to help startups, micro-enterprises, and small businesses expand or become established in Oregon. This fund fills a niche not provided through traditional lending markets.
Evergreen Business Capital
Evergreen Business Capital is a leading provider of SBA 504 loans in the Northwest, serving small businesses in Washington, Oregon, Alaska, and Northern Idaho. Since 1980, they have partnered with lenders to offer low down payments, fixed-rate financing and long-term loans to help businesses grow and create jobs. Evergreen supports its clients throughout the entire process, from preparing paperwork to servicing loans, ensuring that businesses have access to the resources they need to succeed.
Midstate Electric Cooperative Revolving Loan Fund
Through the Midstate Electric Cooperative (MEC) Revolving Loan Fund, MEC is seeking to improve the quality of life in rural areas by helping to leverage projects that create and retain job opportunities for rural residents; that provide technical assistance, education or medical care to rural businesses or rural residents; that further the use of advanced telecommunications services and computer networks for medical, educational and job training services; and that upgrade the public infrastructure to improve the economic development potential of rural areas and the health, safety and medical care of rural residents. For more information on this program, reach out to EDCO Sunriver / La Pine Director Patricia Lucas at patricia@edcoinfo.com.
Oregon Business Development Fund
The Oregon Business Development Fund (OBDF) is a revolving loan fund that provides fixed-rate term gap financing for land, buildings, equipment, machinery, and permanent working capital. The fund is designed to provide gap financing in conjunction with a traditional lender.
Oregon Entrepreneurs Network (OEN) - Angel Oregon
Open to early-stage companies across all industries and counties in Oregon. Typically held in the spring of each year, OEN’s Angel Oregon has offered early-stage companies an opportunity to compete for an investment award, historically $200,000-$300,000, while receiving valuable coaching from angel investors and serial entrepreneurs.
Oregon Venture Fund
Funding and support to build the next generation of world-class growth companies. Invests as much as $4M+, or as little as $500K, in four to seven companies per year, including follow-on rounds.
Portland Seed Fund
The Portland Seed Fund is the most active venture capital investor in Oregon. PSF ventures are focused on Portland and the Pacific Northwest. It invests small amounts of money into a diverse pool of promising sectors and entrepreneurs to generate economic impact.
The Indus Entrepreneurs (TiE)
TiE was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives and senior professionals. Over the last 25 years of existence TiE Chapters around the world has become a vibrant platform for entrepreneurs, professionals, industry leaders, and investors to interact with one another and forge long lasting relationships.
U.S. Small Business Administration 7a Program
The 7(a) Loan Program, SBA’s primary business loan program, provides loan guaranties to lenders that allow them to provide financial help for small businesses with special requirements. 7(a) loans can be used for: Acquiring, refinancing, or improving real estate and buildings Short- and long-term working capital Refinancing current business debt Purchasing and installation of machinery and equipment, including AI-related expenses Purchasing furniture, fixtures and supplies Changes of ownership (complete or partial) Multiple purpose loans, including any of the above
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