A new era in Oregon innovation · “Intro to the CPO” 2. 10-week Accelerator 3. Partnership with Oregon SBDC Network 12 1. Entrepreneur must meet in person with a Technical Service

A new era in Oregon innovation• Innovation & Entrepreneurship division launches in 2015

• New assistant director hired in April

• 5 total staff positions + entrepreneur in residence

• Programs• Oregon Innovation Council (Oregon InC)

• Oregon Growth Board (OGB)

• Regional Accelerator & Innovation Network (RAIN)

• Oregon Metals Initiative (OMI)

• Northwest Collaboratory for Sustainable Manufacturing (NWCSM)

entrepreneurship

innovation

capital

• STEM/CTE• University tech transfer• Federal grants (SBIR/STTR)• Prototype support

• Incubators and accelerators• Small Business Development Centers• Economic Development Districts• Mentors and coaches

• Oregon Growth Board• Angel investors and seed funds• Venture capitalists and conferences• Community capital

IMAGINE…

Every Oregon entrepreneur with easy access to the same, high-quality business development programming – for every type of businesses at any stage of development – no matter where they live or who they are – accessed near where they live.

GOALS: Three Bold Strategies

1. Build Local Capacity 2. Develop and Deliver Programs on a Continuum3. Unite Funders in one Oregon Strategy

Criteria for Success

1. Leverage existing assets in rural communities: buildings, partnerships, practical experience, local expertise and goals.

2. Integrate existing and new programs from across the state. Everyone can participate.

Develop Local Expertise

Examples of what could be

A Thriving Entrepreneurial Ecosystem

PUBLIC – PRIVATE PARTNERSHIPS• High schools – Colleges – Universities

• Local – State – National Non-Profits

• Family – Private – Community Foundations

• Small Business Development Centers

• Economic Development Districts

• Local municipalities

• State Government

• Federal Government

• Industry and small business

• Citizens

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10

Business Oregon Loans & Loan Guarantees

• Oregon Business Development Fund (OBDF)

• Oregon Capital Access Program (CAP)

• Oregon Credit Enhancement Fund (CEF)

• Oregon Industrial Development Bonds (IDB)

• Entrepreneurial Development Loan Fund (EDLF)

FOCUS ON CAPITAL state funds

FOCUS ON CAPITAL state funds

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• Aggie Bonds

• Business Expansion Program

• Business Retention Services Program

• Small Business Credit Initiative

• Oregon New Market Tax Credit

• Brownfields Redevelopment

• Western Juniper Industry Fund

FOCUS ON CAPITALcommunity funds

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Amy PearlFounder and Executive DirectorHatch Innovation

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2

• Oregon Growth Board

• Angel investors and seed funds

• Venture capitalists and conferences

• Community capital

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Enabling Communities to Invest in Themselves

1. Debt to Equity

2. Intrastate law, registered in Oregon

3. Business can raise up to $250,000

4. Investor can invest $2,500 per deal, per person, per business.

5. 12 months to raise the funds

6. Only Oregonians can invest

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(C) 2014 Hatch Innovation 9

501(c)(3) Oregon nonprofit Mission: enable people to launch

enterprises that improve communities.

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1. Built investing platform: Hatchoregon.com

2. Raised nearly $430,000

3. Close to twenty companies …

4. Three successes so far.

5. Average investment $1,000; 50% women.

6. Over 360 brand new ordinary investors.

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1. “Intro to the CPO”

2. 10-week Accelerator

3. Partnership with Oregon SBDC Network

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1. Entrepreneur must meet in person with a Technical Service Provider to review the business plan.

2. Business writes the Offering.

3. InvestOR Meetups build Investor Education

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(C) 2014 Hatch Innovation 15

Nearly a billion dollars – just in Oregon

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What could we do together?

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FOCUS ON CAPITALFederal funds

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Vicki Walker Oregon State DirectorUSDA Rural Development

USDA Rural Development

Vicki L. WalkerOregon State Director

2016 Oregon Brownfields Conference

Departments within USDA

USD

A

Rural DevelopmentCenter for Nutrition Policy

and PromotionAgricultural Marketing

Service

Farm Service Agency Economic Research ServiceGrain Inspection, Packers

and Stockyards Administration

Natural Resources Conservation Service

Food and Nutrition Service National Agricultural Library

Forest ServiceFood Safety and Inspection

ServiceNational Agricultural

Statistics Service

Agricultural Research Service Foreign Agricultural ServiceNational Institute of Food

and Agriculture

Animal and Plant Health Inspection Service

Center for Nutrition Policy and Promotion

Rick Management Agency

USDA’s Rural Development Mission Area

Rural Housing & Community

Facilities

Rural Utilities Service

Rural Business & Cooperative

Service

Program Areas

• Business & Industry Guaranteed Loans• Rural Business Enterprise Grants• Rural Business Opportunity Grants• Intermediary Relending Program• Rural Energy for America Program• Value Added Producer Grants• Cooperative Development Assistance

• Electric Program• Water & Environmental Programs• Telecommunications & Broadband Programs

• Homeownership Loans• Home Repair Loans & Grants• Mutual Self-Help Technical Assistance Grants• Multi-Family Housing Loans• Housing Preservation Grants• Community Facility Loans & Grants

Investments in Rural Oregon2009 - 2015

• Homeownership: $327.9 million

• Multi-Family Housing: $252.2 million

• Water and Environmental: $185 million

• Community Facilities: $60.1 million

• Telecommunications: $75.4 million

• Rural Electric Programs: $101.8 million

• Business & Cooperative Programs: $327.9 million

Rural Development Funding for Brownfields

• Remediation must be completed with the involvement of and to the standards set by the Department of Environmental Quality (DEQ).

• National Environmental Protection Act (NEPA) environmental assessment and impact statement process required.

Business ProgramsBusiness & Industry Guarantee LoansBrownfields: Funding possible for rural businesses being

constructed on a brownfield site.

• Bolsters the existing private credit structure by guaranteeing loans for rural businesses, allowing private lenders to extend more credit.– Applicants are eligible lenders.

– Lenders may request a guarantee for borrowers that include for-profit businesses, nonprofits, cooperatives, federally recognized tribes, public bodies, and individuals.

Business ProgramsRural Business Development Grants

Brownfields: Technical assistance and remediation of where a business is located or will be located.

• Grants for technical assistance, training, and other activities leading to the development or expansion of small private businesses in rural areas.– Business must have fewer than 50 employees and less

than $1 million in gross revenues.

– Eligible applicants include but not limited to towns, state agencies, nonprofits, federally recognized tribes, institutions of higher education, and rural cooperatives

Business ProgramsRevolving Loan Fund Programs

Brownfields: Intermediary lenders may choose to fund projects located on brownfield sites.

• Provides low-interest loans to local intermediaries that re-lend the money for business development in rural areas.– Intermediary Relending Program: intermediaries may

typically lend up to $150,000 and 75% of the project cost to an ultimate recipient.

– Rural Microentrepreneur Assistance Program: Provides funding to Microenterprise Development Organizations for microenterprise startup and expansion.

Community Facilities ProgramBrownfields: Some remediation costs

• Loans for construction or renovation of essential community facilities and/or purchase and installation of necessary equipment; grants as part of a financing package in low-income, high-need communities– Facilities may include emergency services, health care,

public buildings, shelters

– Applicant must be a public body, nonprofit, or tribe

– Project must serve a rural area or community of less than 20,000 people

Water & Environmental ProgramsBrownfields: Some remediation costs

• Technical assistance and financing for rural communities to develop drinking water and waste disposal systems.

– Applicant must be a public body, nonprofit, or tribe

– Project must serve a rural area or community of fewer than 10,000 people

Multi-Family Housing ProgramsBrownfields: Apartments constructed on brownfield sites

• Financing for the development/renovation of affordable rental housing in rural areas (low- and very-low-income)

• Rental assistance for qualified very-low income residents of USDA-financed apartment complexes (keeps rent at no more than 30% of renter’s monthly income)

Multi-Family Housing ProgramsAstoria Gateway Apartments

• 32-unit apartment complex for low-income families constructed on an old lumber mill site

• Rural Development provided $1 million loan for apartment construction

For more information…

Rural Development: www.rd.usda.gov/or

USDA is an equal opportunity provider, employer, and lender.

To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users).