Oregon group seeks $40 million to seed innovative businesses

Economic development – A state advisory panel’s request may face tough politics in Salem

A statewide advisory council wants the 2007 Legislature to carve out almost $40 million in the 2007-09 budget for an economic-development strategy aimed at helping what the council dubs "innovation-driven industries."

The group, made up of company executives, university provosts, venture capitalists and legislators, is expected to adopt the economic plan today at a gathering at Gunderson, a railroad car and barge maker in Northwest Portland. Industries identified in the recommendations include food processing, manufacturing and alternative energy.

"This is about the state providing seed money to get innovation initiatives off the ground," said Marian Hammond, a division manager with the Oregon Economic and Community Development Department. The department provides staff support for the volunteer council.

GAIL KINSEY HILL

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