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Manufacturing technology central to expanded Oregon innovation budget

November 16, 2017

State spending for the Oregon innovation economy during the 2017-2019 biennium in the Oregon Business Development Department received a sharp increase, thanks in part to nearly $14 million of funding for the new Oregon Manufacturing Innovation Center (OMIC).  According to the Business Oregon website, “OMIC brings together as founding partners The Boeing Company, the broader regional metals manufacturing industry and employers, Portland Community College (PCC), Portland State University (PSU), Oregon State University (OSU), Oregon Institute of Technology (OIT)” for collaborative applied research and to address advanced technical training needs in the industry. Funding is distributed among a number of sources in the state budget:

  • $3.6 million operational funding from the Oregon Budget
  • $3.0 million one-time operational and research funding redirected from the ConnectOregon Fund in the transportation department
  • $3.39 million road construction funds from lottery bonds
  • $3.875 million of XI-Q bond funds from the Higher Education Coordinating Commission directly to the Oregon Institute of Technology for building capital and personal property acquisition.

OMIC also has commitments for 2017-2018 industrial and research membership dues of in excess of $1.1 million.

In addition to OMIC, the state legislature appropriated funds to support additional innovation and entrepreneurship priorities for the biennium, including:

  • $18.2 million for the Oregon Innovation Council ($100,000 increase above the previous biennium)
  • $5 million in one-time support for the Eastern Oregon Border Economic Development Board for loans and grants to encourage prosperity in this rural section of the state.
  • $4.26 million for the Oregon Small Business Development Center network (66 percent increase over prior biennium).
  • $1 million for the Regional Accelerator and Innovation Network (RAIN) to support entrepreneurship in the South Williamette Valley and Mid-coast regions of the state. (50 percent decrease from previous biennium).
  • $750,000 for a new Rural Opportunities Initiative to support training and technical assistance for rural entrepreneurs, including new rural centers for entrepreneurship.
  • STEM and Career & Technical Education programs in the state K-12 education budget were cut by 5.8 percent. Funds available in the 2017-2019 biennium total $89.73 million.

More information is available here.

Oregonstate budgets