Oregon Administrative Rules
Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT
Division 91 - OREGON BUSINESS RETENTION AND EXPANSION PROGRAM
Section 123-091-0015 - Criteria for OBEP Fund Loan
Universal Citation: OR Admin Rules 123-091-0015
Current through Register Vol. 63, No. 9, September 1, 2024
In order to be eligible for a loan from the OBEP Fund, the Department must first find:
(1) That, at the time a loan from the OBEP Fund is considered for approval, the Business:
(a) Has at least 150 employees as
demonstrated by documentation determined to be acceptable by the
Department;
(b) Is a traded sector
business, as defined in ORS
285A.010;
(c) Is not a retailer, as defined in ORS
72.8010;
(d) Plans to hire at least 50 full-time
Eligible Employees before the end of the two calendar years following the year
in which the OBEP loan is approved;
(e) Has stated to the Department that a loan
from the OBEP was an integral factor in the Business's decision to hire at
least 50 full-time Eligible Employees; and
(f) Has provided all information to the
Department as requested and as required by the Oregon Business Retention and
Expansion Program;
(2) That the Business's proposed expansion will result in significant, long-term economic benefit in the region and will serve as a catalyst for additional economic development benefits in the state.
Stat. Auth.: ORS 285A.075, 285 B & OL Ch. 549, Sec. 1-8 & 10-11
Stats. Implemented: ORS 285 B, OL Ch. 549, Sec. 1-8 & 10-11
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