Feb. 10, 2025
What happened: On Feb. 10, OBI Senior Policy Director Duke Shepard testified in support of HB 2411 before the House Committee on Economic Development, Small Business and Trade. The bill would establish the Industrial Site Loan Fund and allocate $40 million to it. Click the video to the right to watch Duke’s testimony and click the button below it to read his submitted testimony.
The problem: Oregon suffers from a shortage of market-ready industrial land, and public and private owners of industrial land have limited tools to develop it. As a result, Shepard explained, Oregon manufacturers often expand in other states. When this happens, Oregon loses the benefits such development brings, including jobs and tax revenue.
What the bill would do: In 2023, the Legislature created the Semiconductor Industrial Lands Loan (SILL) Program and committed $10 million to it. The forgivable loan program reimburses government entities, property owners and businesses for development and planning activities. The SILL program is restricted to semiconductor projects in limited areas. HB 2411 would create a similar program that is not limited to semiconductor projects.
Why it matters: Jobs in Oregon’s manufacturing sector pay better than jobs in other industry sectors. Additionally, by producing goods sold outside of the state, traded sector companies pull dollars into Oregon. Helping to make buildable land available to such companies will encourage them to expand in Oregon, keeping good jobs here.
Learn more: Increasing funding for site-readiness programs is one component of OBI’s Oregon Competitiveness Agenda, which you can read here.