OR receives $83.5 million for Small Businesses

Gov. Kate Brown said the money will help
“tackle systemic barriers to economic opportunity”

https://oregoncapitalchronicle.com/2022/08/19/oregon-receives-83-5-million-for-small-businesses-from-us-treasury/


Oregon will receive $83.5 million from the federal government to help small business owners, the U.S. Treasury and Gov. Kate Brown announced Friday. 

The influx in federal funding comes from the U.S. Treasury’s State Small Business Credit Initiative, a competitive program that provides seed money with the expectation that private investors will invest $10 for every $1 in federal spending. Colorado, Montana, and New York also received funds Friday. 

Brown said during a press conference that Oregon will use the new federal money to “tackle systemic barriers to economic opportunity.” 

Oregon plans to split its $83.5 million between innovative companies in their early stages and small local retail and manufacturing businesses that need help with start-up or expansion costs, Btown said. It includes two venture capital programs, according to a Treasury press release. 


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