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Economic district gets funds for investing
NEOEDD awarded $15,000 for local community capital financing
ENTERPRISE — The Northeast Oregon Economic Development District was awarded $15,000 to support the development of local community capital financing for businesses and citizens in Baker, Union and Wallowa counties by the Oregon Community Foundation.
The Community Capital project is a program of training and technical assistance to enable individuals to enter into legal investment arrangements with entrepreneurs and businesses of their choice.
“These funds will help us bring investing education and tools to the region in the coming year,” said Lisa Dawson, district executive director. “Economic and community development partners have laid some important groundwork, but there’s a lot more to do to connect investors and entrepreneurs.”
Community capital gives local citizens the option to divert money from the global stock market, which does not directly benefit the region, into Northeast Oregon businesses.
“This program moves toward creating permanent, mutually beneficial relationships between community members who have capital and small-business owners who need capital to establish or grow their businesses,” said Dawson. “We want to see a region that is full of engaged citizen-investors and vibrant, creative and
The district is part of the Northeast Oregon Community Capital Collaborative, a group of 14 organizations working in conjunction with Springboard Innovation and its online platform, ChangeXchange Northwest, to launch a community capital program in Northeast Oregon.
The collaborative is seeking additional partners, and volunteers for the following teams: leadership, marketing and communications, local loyalty point system, local impact investing opportunity network, education and event planning.
The mission of The Oregon Community Foundation is to improve life in Oregon and promote effective philanthropy. Application materials and information about establishing a fund are available on the foundation’s website: www.oregoncf.org.