Traded sector industries are the foundation of state and regional economic development strategies for long-term prosperity and job creation. Because traded sector jobs typically pay higher than average wages and generate higher than average income tax revenues, such jobs play an important role in supporting critical state services.
Industrial development that provides new traded sector jobs reinforces the economies of local and regional communities and contributes to the economic recovery of the State of Oregon.
There is a shortage of market-ready regional industrial sites in this state. Project sponsors have limited financial tools to facilitate development of significant and complex industrial sites that are appropriate for traded sector industrial use.
Public assistance is necessary to overcome development-related constraints and to incentivize industrial site development in this state.
The State of Oregon has a significant interest in the success of regional economic development strategies and is the primary beneficiary of such economic development through increased income tax revenues. These revenues should be shared and invested in facilitating significant site development for traded sector industrial use in this state. [2013 c.763 §1; 2017 c.561 §1]Note: 285B.625 (Legislative findings) to 285B.632 (Oregon Industrial Site Readiness Program Fund) were enacted into law by the Legislative Assembly but were not added to or made a part of ORS chapter 285B or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.