§ 284.701 — Definitions for ORS 284.701 to 284.749

Oregon § 284.701

• Jurisdiction: Oregon
• Vol.: 7
• Title 26A: Economic Development
• Ch.: 284

Text

As used in ORS 284.701 to 284.749:
(1) “Equity investment” means any investment not prohibited under Article XI, section 6, of the Oregon Constitution.
(2) “Innovation-based economic development” includes, but is not limited to, a technology, product, process or innovation that:
(a) Derives from and supports innovation and research;
(b) Promotes Oregon’s market capacities and competitive advantages;
(c) Involves technology-based innovation;
(d) Facilitates the creation of new products, processes and services that retain and create high-wage jobs;
(e) Involves the establishment of partnerships between and collaboration with research institutions, the private sector and public entities; and
(f) Endeavors to transfer innovative technologies to the private sector or to commercialize innovative research and development.
(3) “Oregon growth business” means:
(a) An individual, group of individuals or private sector business entity, including but not limited to a partnership, limited liability company, corporation, firm, association or other business entity, that engages in business that furthers innovation-based economic development, that has the capacity, upon obtaining appropriate capital, to generate significant high-skill, high-wage employment in Oregon and that conducts business in Oregon; or
(b) An emerging growth business consisting of an individual or group of individuals or a new or small company, including but not limited to any new or small partnership, limited liability company, corporation, firm, association or other business entity, that has the capacity, upon obtaining appropriate capital, to generate significant high-skill, high-wage employment.
(4) “Public entity” means any agency of the federal or state government, county, city, town, public corporation or political subdivision in this state.
(5) “Research institution” means:
(a) A community college as defined in ORS 341.005;
(b) A public university listed in ORS 352.002;
(c) The Oregon Health and Science University public corporation established under ORS 353.020;
(d) An Oregon-based, generally accredited, not-for-profit private institution of higher education;
(e) A federal research laboratory conducting research in Oregon;
(f) A private not-for-profit research institution located in Oregon;
(g) An institution for higher education as defined in ORS 289.005; or
(h) A private institution of higher education located in Oregon.
(6) “Traded sector” has the meaning given that term in ORS 285A.010.

Legislative History

2005 c.748 §1; 2011 c.610 §1; 2011 c.637 §92; 2012 c.90 §20; 2019 c.131 §1