91视频

State Treasurer Ted Wheeler is suggesting Oregon put its economic development eggs in one basket.

On Monday the treasurer unveiled plans for a reform package called the Oregon Investment Act.聽House Bill 4040 will be introduced in the upcoming legislative session聽and would regroup money for economic development under one state umbrella.

James Sinks, communications director for the treasurer鈥檚 office, said the proposal is the result of months of input from businesses across the state. The re-organization, he said, will allow for better coordination of state money that is currently spread out over several agencies, as well as better tracking of investment results. And with better coordination comes greater opportunities for investment, Sinks said.

Sinks said the treasurer has talked about mimicking programs like Ohio鈥檚 Third Frontier strategy (a technology focused incubator program), and Michigan鈥檚 InvestMichigan! (an investing program for capital fund growth), with the intent to look for ways to put several hundred million dollars into action.

鈥淭he idea being that, not only are we spending what we have better, but then starting to add resources on top of that and using that to leverage private sector money,鈥� Sinks said.

While that鈥檚 not likely to result in a huge influx of cash for things like capital construction projects in the immediate future 鈥� the State Debt Policy Advisory Committee recently recommended the legislature not issue any new loan debt in 2012 鈥� it could help down the road, Sinks said.

鈥淭hrough this there would be the opportunity to hopefully increase loan participation programs to help close this capital gap that鈥檚 been identified in Oregon,鈥� he said. 鈥淔rom what I鈥檓 hearing, that鈥檚 on the short list of high priorities for this.鈥�

Sinks said H.B. 4040 has bipartisan support from 37 sponsors and co-sponsors. He said the Oregon Business Plan, the Oregon State Building and Construction Trades Council and the Oregon Business Association鈥檚 Business and Finance Committee聽had also endorsed the act.

鈥淪o there seems to be some momentum there,鈥� he said.