2/27 UPDATE

OEDA Members:

The Oregon Legislature will adjourn its 2026 Legislative Session soon and now is the chance to support new tools for economic development!

ACTION ALERT - OPPORTUNITIES TO ENGAGE

CONTACT YOUR LEGISLATORS TODAY

and urge their support of HB 4084

HB 4084: Governor Kotek’s Prosperity Package

Backed by Governor Kotek, HB 4084 takes meaningful steps forward for economic development this year:



• $40 Million investment in the Industrial Site Loan Fund; Building off last year’ momentum, growing this program allows more communities to finance infrastructure to offer prospective employers shovel-ready industrial sites.
• Enhanced Enterprise Zone program; our most proven tool, the bill allows zone sponsors to expand eligibility under certain conditions and extend agreements up to two years.
• Joint Permitting Council and Regulatory streamlining; Creates a new tailored approach, specific to rural, suburban and urban areas, to identify priority projects and provide a new pathway to regulatory approval. 

HB 4084 may be headed to the House and Senate floors soon! Please reach out to your local legislators and urge their “yes” vote on HB 4084.  

SB 1586: JOBS Act

OEDA Supports the JOBS ACT (SB 1586):

This bi-partisan bill creates an R&D tax credit for advanced manufacturing and biotechnology and property tax abatement for new equipment purchases.  

Please contact your legislators and urge them to PASS SB 1586 THIS SESSION!

CONTACT YOUR LEGISLATORS TODAY

and urge their support of SB 1586

ADDITIONAL BILLS OF INTEREST

SUPPORT

HB 4102, Allows DEQ to enter into third party agreements to expedite permit applications

SUPPORT

SUPPORT

SB 1512, Prosperity 10,000

HB 4086, Industrial Symbiosis

OPPOSE

SB 1507, Federal Tax Disconnect: This bill will disallow businesses from using the new accelerated depreciation benefit for Oregon income tax purposes. This provision of the federal tax code provides tool for businesses to better manage cash flow and purchase new equipment.

WHAT'S NEW IN OPPORTUNITY ZONE 2.0?

Oregon’s Opportunity Zone 2.0 program is designed to unlock long-term investment in communities that need it most. Building on the success of the original Opportunity Zone initiative (Opportunity Zone 1.0 or OZ 1.0), this updated program offers enhanced incentives and transparency to ensure that private capital drives real, measurable improvements in housing, jobs, and infrastructure across the state.



Oregon partners with local governments and stakeholders to identify eligible census tracts, guide investors, and ensure projects align with statewide economic development priorities.

ENGAGEMENT OPORTUNITIES

We’re excited to connect with communities, investors, and local leaders as Oregon prepares for Opportunity Zone 2.0 selection process.



Engagement events and informational sessions will provide a chance to learn about the updated program, learn about the nomination process, and ask questions.

OZ 2.0 - WEBINAR SERIES

WEBINAR #1: Opportunity Zones 101 - The Basics & New Landscape (Pre-recorded)

OZ Basics, OZ 1.0 vs. 2.0 Comparison, Eligible Tract Analysis & What's Ahead.

WEBINAR SERIES OVERVIEW

WEBINAR #2: Oregon's Opportunity Zone 2.0 Nomination Process (March 23, 2026)

This session will provide an in-depth look at Oregon’s nomination process, including: 

• Important deadlines and required application materials 
• Best practices for preparing strong nominations 
• Guidance on tract viability, aligning with local economic strategies, and building compelling community narratives ​
• Capacity considerations such as stakeholder roles, compliance requirements, and resource needs

WEBINAR #3: Attracting Private Capital & Investor Relations (April 2026)

​Learn best practices for attracting private investment and understanding investor priorities, including: 

• How to assess whether a tract is attractive to investors 
• Building narratives that align community priorities with developer goals 
• Demonstrating project viability and avoiding land-use constraints 
• Basics of financial structuring and post-designation management 

LOCAL NOMINATION PROCESS

Oregon is committed to developing a transparent, data-driven process for selecting Opportunity Zone 2.0 tracts. As part of this effort, we anticipate inviting local jurisdictions—such as cities, counties, tribal governments, Economic Development Districts, and other eligible entities—to identify tracts within their communities for consideration. This list is not exhaustive, and additional guidance will be provided as the process is finalized.

Oregon is developing an interactive map that will display the finalized list of eligible census tracts for Opportunity Zone 2.0. This tool is expected to be available in March 2026.

In the meantime, to assist with early planning, stakeholders can use Novogradac's OZ 2.0 Mapping Tool to view census tracts that are potentially eligible.

QUESTIONS?

Business Oregon welcomes your questions about the Opportunity Zone program!

As they work through your questions and provide answers, we'll develop a "Frequently Asked Questions" document for easy reference. 

They encourage you to email with your questions and/or subscribe to our email updates by clicking on the buttons below.

OEDA Policy Council

(Left to right)

Erika Fitzgerald (Policy Council Chair) Interim Economic Development Manager, City of Gresham

Rocky Dallum (Lead Policy Counsel) Partner, Tonkon Torp, LLP.

Cindy Moore, (OEDA Past Board President) Sr. Business & Economic Development Coordinator, Clackamas County

Jon Stark, CEO, Economic Development for Central Oregon (EDCO)

Kelsey Haskett, (OEDA Board President) Prineville/Crook County Director, EDCO

Mark Gharst, Policy & Government Affairs Manager, Business Oregon

Chabre Vickers, Director Equity, Policy, and Communications, Prosper Portland

Nina Carlson, (OEDA Board Director) Governmental Affairs Manager, NW Natural

Justin Low, Legislative Affairs Manager, Association of Oregon Counties (AOC)

GET INVOLVED

STAY INFORMED:

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