OIB Unveils New Video Series Showcasing Local Businesses
Oregon Investment Board is unveiling a new video series showcasing their work with businesses in the Columbia River Gorge. The videos interview small business owners around the gorge about their experiences with OIB and seek to educate the viewer about economic development loans and grants for projects benefiting counties lying in the Columbia River Gorge National Scenic Area, including information about OIB’s new Covid-19 pilot program that offers short term working capital loans for up to $35,000 with a 30-month repayment period.
Ami Beaver, Mid-Columbia Economic Development District (MCEDD) Assistant Project Manager, said that the OIB earmarked funds for this video project prior to COVID-19, but that in some ways the virus also helped to propel the project forward.
“The board anticipated there would be a greater need and wanted to get the messaging out to the community,” said Beaver. “We hope to use the video series to get the word out about the program and raise awareness in the community about the available funding. We hope to see an increased number of applications and inquiries as a result of the series.”
OIB contracted Immense Imagery in The Dalles to create the films. “Robbie had COVID-19 safety protocols in place prior to scheduling filming, so we were able to share that information with the featured businesses early on in the process,” said Beaver. “We knew it was important to continue on with the project, but safety was a key consideration.”
Video interviewees include Jorge Barragan owner of Casa el Mirador in The Dalles, Kenya Sarabia, owner of Terra Cotta in The Dalles, Terry Brigham owner of Brigham Fish Market in Cascade Locks, Nicole Bassett owner of The Renewal Workshop in Cascade Locks and Molly Lewis & Sean Kelly owners of Dog River Pet Supply in Hood River.
“We wanted to feature businesses that span the national scenic area as well as to try and feature different types of projects,” said Beaver.
The first of the videos was released in December and is available to watch on OIB’s YouTube channel, in the MCEDD newsletter, and on OIB’s social media channels. OIB will continue to release videos over the next few months.
In 2021 the Oregon Investment Board has said it aims to strengthen and diversify the economy of the region by funding projects that create and retain jobs and leverage both private and public funds.
In 2020 the board proactively offered relief to current loan clients by offering a period of deferred interest and principal payments, followed by a period of interest only payments. To date, the Oregon Investment Board has received four appropriations totaling approximately approximately $4 million. The OIB has approved grants and loans (by utilizing revolved funds) totaling more than $9.5 million.The Oregon Investment Board has leveraged over $15.2 million in private funds and more than $13.3 million in public funds. Funds are provided through grants and loans to support infrastructure, business assistance, and workforce development to support job creation and retention for working families in the Columbia River Gorge. The OIB has provided funding to projects to directly create or retain nearly 700 jobs.