Governor Tina Kotek testified before the House Committee on Economic Development, Small Business and Trade support of House Bill 4084, the Governor’s economic development package for the 2026 legislative session.
“While President Trump’s tariff-taxes make life more expensive for Americans and sow uncertainty in the economy, I refuse to let Oregon fall behind,” Governor Kotek said. “The time to act is now. Oregon is open for business. Let’s build on our strengths by improving our ability to be competitive in a challenging economic environment.”
In December, Governor Kotek unveiled her Prosperity Roadmap alongside business and community leaders. The strategy lays out three broad goals: retain and grow Oregon businesses, catalyze job creation, and accelerate Oregon’s economic growth. House Bill 4084 jumpstarts that roadmap by establishing FastTrack permitting, modernizing economic development tools, and improving industrial site readiness.
“Governor Kotek’s Prosperity Roadmap sets the right vision for Oregon’s economic future, and HB 4084 is an important step toward making that vision real,” said Vartan Djihanian, Director of Global Government Affairs at Lam Research, a semiconductor equipment company with operations in Tualatin and Sherwood. “HB 4084 sends a clear message: Oregon is serious about economic growth, job creation and competing for investment, while maintaining strong regulatory standards.”
What House Bill 4084 does:
FastTrack Permitting
To encourage major investments in Oregon’s economy, House Bill 4084 establishes FastTrack Permitting for qualified economic development projects in any of Business Oregon’s targeted industry sectors. Modeled after successful programs at the federal and state level, FastTrack will support up to 15 large projects at a time to create jobs and grow Oregon’s GDP.
Permit Inventory and Reporting on Fee Relief
House Bill 4084 would require state agencies to publish a comprehensive inventory of permits required for economic development projects – regardless of size – and publish a report on opportunities to streamline processing timelines and opportunities to provide fee relief for delayed applications/permits.
Industrial Site Readiness
Oregon lacks large, shovel-ready industrial sites. To address this statewide need, the bill includes a $40 million one-time investment in the Industrial Site Loan Fund at Business Oregon to help fill funding gaps for local governments, including upfront costs for infrastructure, environmental mitigation, site assembly, and other site preparation needs.
Enterprise Zone Modernization
The Enterprise Zone program is one of Oregon’s most effective economic development tools, driving private investment, as well as supporting job creation and retention in local communities. But these tools need to be modernized to become more accessible to a broader range of companies interested in investing and expanding in Oregon.
House Bill 4084 would increase access for businesses that may not have otherwise qualified for this economic development tool by:
- Modifying the job creation thresholds so small and rural communities can participate;
- Allowing retention, productivity, or revenue improvements as qualifying criteria;
- Expanding eligible businesses’ criteria beyond current restrictions for traded sector businesses; and
- Extending enterprise zone exemptions beyond 5 years and allowing more flexible hiring timelines.
Expanding access to this opt-in program will unlock greater opportunities for businesses to invest across the state, strengthening Oregon’s economy and fostering long-term growth.
This story is based on submitted information and has not been verified by our news team.
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