(a) Oregon possesses unique and sustaining virtues that will guide and assist in maintaining the state’s economic health, including but not limited to Oregon’s:

(A) Special heritage;

(B) Respect for and cultivation of the environment; and

(C) Attention to quality of life issues that are important to the state’s economic development, including but not limited to access to quality, affordable child care for all children in Oregon.

(b) Oregon is strategically placed to compete and succeed in the global marketplace.

(c) All regions of the state should share in Oregon’s economic recovery.

(d) Creating and retaining quality jobs are vital to the state’s economic health.

(e) Oregon’s agriculture and natural resource industries provide opportunities for beneficial economic enterprise, including sustainable business development activities.

(f) A well educated and trained workforce is necessary to support business and industry needs throughout the state.

(g) The ability of existing businesses to grow is critical to Oregon’s prosperity.

(h) The state must utilize its competitive advantages to retain existing businesses and attract new companies and investment into the state.

(i) Continued development in Oregon depends on strengthening traded sector industries.

(j) International trade and development of international trade are essential for future business development opportunities.

(k) Small businesses remain a critical element of the state’s economy.

(L) Capacity building to support business development in rural and distressed areas is a key component of economic development and revitalization efforts.

(m) Oregon’s ports are important partners in the state’s economic development efforts and are key components of local and state economic development strategies.

(n) Improving and enhancing infrastructure is necessary to the state’s future economic development.

(o) Federal, state and local agencies working together will continue to enhance industrial site development and other economic development activities.

(2) It is the purpose of ORS 284.101 to 284.148 and ORS chapters 285A, 285B and 285C to enable the creation, retention, expansion and attraction of businesses that provide sustainable, living wage jobs for Oregonians through public-private partnerships and leveraged funding and to support economic opportunities for Oregon companies and entrepreneurs.

(3) The Legislative Assembly declares that it is the immediate economic strategy of the state to:

(a) Promote a favorable investment climate to strengthen businesses, create jobs and raise real wages;

(b) Improve the national and global competitiveness of Oregon companies; and

(c) Assist and further efforts to retain, expand and attract businesses.

(4) To promote the advancement of the Oregon economy and implement the immediate economic strategy of the state, the Oregon Business Development Department shall invest resources in accordance with the following principles:

(a) Processes for making public investments and working with local and regional issues must be designed for flexibility so that actions can adapt to the constantly changing conditions and demands under which communities and businesses operate.

(b) Partnerships among local, state and federal governments and public and private organizations and entities should be strengthened to further the economic strategy of the state.

(c) The expected impact of public investment and assistance shall be identified, in terms of measurable outcomes, whenever possible.

(d) State, federal and community goals, constraints and obligations should be identified at the beginning of the planning process, and the state should work actively with community partners, regions and state and local agencies to address and accomplish their mutual objectives.

(5) When the department provides funds or assistance for projects, programs, technical support or other authorized activities pursuant to ORS 284.101 to 284.148 and ORS chapters 285A, 285B and 285C, the department shall give priority to projects, programs and activities that:

(a) Retain and create jobs and raise real wages;

(b) Promote capacity building, emphasizing rural and distressed areas to further economic development initiatives;

(c) Assist small business creation and expansion;

(d) Invest and engage in training a skilled workforce;

(e) Retain and expand existing companies and recruit new investment to Oregon;

(f) Capitalize on Oregon’s competitive advantages and strategically invest resources to offset competitive disadvantages;

(g) Support innovation and research;

(h) Assist industry clusters to succeed;

(i) Market Oregon’s advantages;

(j) Promote international trade and attract foreign direct investment;

(k) Support the development of industrial and commercial lands;

(L) Advance the efforts of ports to promote economic development activities; and

(m) Build capacity in Oregon’s arts and cultural organizations, creative businesses and individual artists. [Formerly 285.005; 1999 c.509 §2; 2001 c.883 §1b; 2007 c.804 §§2,88; 2009 c.830 §9]