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Upcoming meeting: Tuesday, April 29th. “Medical Marijuana” with Gary Conkling representing Associated General Contractors, Dan Harmon of Hoffman Construction and Andrea Meyer from the American Civil Liberties Union.
The Oregon Business Association believes that a healthy business environment throughout the state is essential to attract and retain businesses, provide stable employment to citizens and a strong financial base for the state. A streamlined regulatory system and a stable economy are part of a healthy business environment, as well as a political climate that encourages collaboration between business, citizens and the Legislature to work on the preservation and expansion of the principles and amenities that have made Oregon great.
Oregon’s revenues are extremely volatile; 89% of our general fund revenue is from one source: personal income taxes. Personal income taxes vary widely based on our economy. However, our expenses for education, health care, and public safety are essential whether our economy is up or down.
Specifically, OBA supports:
Except in times of recession, the state has historically had an ending fund balance that is carried over to the next biennium. OBA proposes using the ending fund balance to build a rainy day fund. OBA recommends the following conditions for the fund:
Oregon’s revenues are not adequate to support basic needs of Oregonians. We are underinvested in education, transportation, health care and in levels of investment in economic development compared to other states. We are hard pressed to save money when our economy is thriving because of our kicker law, a unique provision that requires the state to give money back to taxpayers when our actual revenues are above projected revenues. We support diversifying and increasing our sources of revenue on a permanent basis so that we can provide essential services to Oregonians.
Specifically, OBA supports:
Oregon’s citizens need jobs and Oregon’s business community needs strategic state investments. OBA supports efforts, such as the Oregon Business Plan, that create a strategy for focused investments in business “clusters” that are specifically tied to Oregon’s unique attributes. Some of Oregon’s strengths include our capacity to attract creative and enthusiastic young people, our agricultural base, our reputation and experience in “sustainable” businesses and the strengths of our university-based research departments. Key economic sectors are food processing and forest products. We need a focused strategy to build on those strengths.
Specifically, OBA supports:
The Oregon Innovation Council, a statewide public-private advisory council, recommends a stimulus package of up to $40 million to be invested by the state by 2009. The package is based on a strategic assessment of Oregon’s strengths and is based on the Oregon Business Plan. The investments are focused on key Oregon “clusters” including food processing, manufacturing, alternative energy and sustainability, nanoscience and health care research. Up to $40 million will be invested in the following areas:
Investment tax credits are an economic stimulator providing incentives for businesses to invest in the Oregon economy. The credit would be awarded for capital improvement costs (machinery or other equipment, or facility costs). The credit should be designed to maximize utilization by small businesses and attract a broad base of participants by capping the amount for each recipient. The overall credit should not exceed $30 million.
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