Need for the Port Revolving Fund Project
Applications must include sufficient information that will demonstrate the need for the project. The information must include, but not be limited to, the following:
Whether economic benefits and opportunities such as increased employment, increased personal income, and cost savings are evident;
Whether the applicant has a prospective user or other near-term use of the proposed project; and
That the project satisfies the applicable requirements of OAR chapter 123, division 8.
In the event the loan is primarily for a proposed project to facilitate the location or expansion of an industry pursuant to ORS 285A.666285A.732, the industry expansion to be induced by the loan must include activities consistent with the infrastructure target industries or Ports adopted Strategic Business Plan.
Need for the project will be established for the purpose of these rules for in-state plant relocation if:
The firm engaging in in-state plant relocation has demonstrated that the relocation is necessary for reasons beyond its control;
The relocation will provide a substantial increase or prevent a substantial direct reduction in total Oregon employment.