Oregon Treasurer Wants To Streamline State Investment Cash

Jan 23, 2012

TIGARD, Ore. – Oregon lawmakers will consider a plan next month to consolidate the ways the state distributes its economic development dollars. Oregon Treasurer Ted Wheeler outlined Monday what he’s calling the "Oregon Investment Act."

The problem, says Ted Wheeler, isn't a lack of money.

Ted Wheeler: "There are in fact significant dollars allocated by the legislature towards economic development. But they're highly fragmented across different agencies. Not only are they fragmented and siloed, but they're inflexible."

Wheeler's proposal would bring much of that economic development cash together under the authority of a newly created oversight board. The panel would have broad power to distribute the money. That could come in the form of outright grants. Or the state could guarantee loans made by banks to small businesses. Wheeler says the plan has bi-partisan support in the legislature. Lawmakers will consider the measure during their February session.

Copyright 2012 Northwest News Network