Oregon Economic Development

Kitzhaber said, a generation of Oregonians face the prospect of lower living standards and shorter lifespans than their parents.

"Once you start losing the work force, it’s hard to talk firms into setting up shop in your rural area," state economist Mark McMullen said. "With no jobs, you’re not going to get any young migrant families. With no workers, you get no jobs, and this becomes a very negative cycle."

The fund says it will consider companies from any part of the state, but will emphasize central Oregon.

Although green energy companies remain the priority, the move diversifies taxpayers’ portfolio beyond solar manufacturers.

A report commissioned last year by the state and the Portland Development Commission found that Oregon’s subsidies have contributed to employment growth in the film and video industry, but that the incentives aren’t paying for themselves.

Oregon’s economic development arm is angling for more freedom to extend millions of dollars in tax credits to manufacturers, even as the program’s two highest-profile companies struggle to survive.

Scotty Iseri’s startup — an app-based and online video education series that teaches children about math — has had a busy nine months.

The city of Pendleton can’t seem to give money away.

Overall, the seed fund said it has now invested in 36 companies, which have collectively attracted $20 million in additional backing.

Meiffren said the ruling should serve as a guide for all state agencies that are stewards of public money. The information is essential to track the effectiveness of subsidies and guide policy decisions, she said. "It’s hard for (lawmakers) to make informed decisions about how our tax dollars are being spent if they don’t have all the facts."