Or. Admin. Code § 123-091-0015

Current through Register Vol. 63, No. 12, December 1, 2024

Section 123-091-0015 - Criteria for OBEP Fund Loan

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.

Or. Admin. Code § 123-091-0015

OBDD 4-2012, f. 3-30-12, cert. ef. 4-2-12

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