OREGON LEGISLATURE PASSES CITY OF BEAVERTON BACKED BILL TO SPUR JOB GROWTH IN UNDERSERVED COMMUNITIES
Posted: June 29th, 2011 12:24 PM
The Oregon House of Representatives has passed Senate Bill 817, the Low-Income Community Investment Initiative, marking a win for main streets throughout Oregon.
The Low-Income Community Investment Initiative will encourage job creation and economic growth in underserved local economies. Through the creation of a modest, strategic and highly regulated tax credit for investments in business development projects in low to middle income Oregon areas, SB 817 will make it easier for businesses in struggling communities to launch, grow, survive, and prosper.
The City of Beaverton, under Mayor Denny Doyle, has been a staunch advocate of smart, economic growth polices within Beaverton and beyond. As such, the City of Beaverton has strongly supported the Low-Income Community Investment Initiative and has worked closely in the Legislature with Senator Mark Hass and Representative Tobias Read to promote its passage.
Mayor Doyle welcomed the advancement of SB 817 as good news for Beaverton and for Oregon.
"This is a great tool for Oregon's economic tool box," said Mayor Doyle. "SB 817 will allow businesses and potential business throughout Oregon access to the capital that they need to succeed. In Beaverton, this will help job creation, business growth, and downtown development. Our community, communities beyond Beaverton and our collective Oregon economy stand to benefit greatly with the passage of this bill. I applaud the Legislature for its leadership and for getting this done."
SB 817 previously passed the Senate on June 24 and now goes to Governor Kitzhaber for his signature.
ABOUT BEAVERTON
Beaverton enjoys one of the most diverse populations among Oregon cities. It was one of just four cities of its size recently recognized as a "Smarter City" energy leader by the Natural Resources Defense Council and one of the 100 Best Places to Live in America by Money magazine. In addition, Beaverton has been named one of the safest cities in the Pacific Northwest for three consecutive years, as one of the best places to raise kids by BusinessWeek magazine, an All-America City finalist, one of the 100 Best Walking Cities in America by Prevention magazine, the Recycler of the Year from the Association of Oregon Recyclers, a Tree City USA by the Arbor Day Foundation, a Bronze Award Bicycle Friendly Community designation by the League of American Bicyclists and as one of the Environmental Protection Agency's Green Power Communities. Most recently, the Beaverton Community Vision program was named Public Involvement Project of the Year-Best Planning Project by the International
Association of Public Participation (IAP2) Cascade Chapter. For more information, please visit www.beavertonoregon.gov.
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