OCKED Charts Course for Making Oregon Economy More Competitive

The Oregon Council on Knowledge and Economic Development (OCKED) is set to present its official report to the governor and the 2003 State Legislature. Outlining several key economic development policy and funding recommendations, the council addresses several short-term and long-term strategies for enhancing Oregon’s economic competitiveness in a knowledge-based global economy.

In preparing its report, OCKED focused its efforts on three areas that drive quality job growth and economic development. These areas – research and technology transfer, capital and business formation, and knowledge and workforce development – entail additional specific initiatives:

• increasing the capacity for high-quality research and development (R&D) and translating that research into commercial applications;
• increasing the value and economic benefit of research and technology transfer;
• increasing the amount of pre-seed, seed and institutional venture capital available to emerging businesses, especially in the technology and bioscience sectors;
• developing programs and incentives to deepen management expertise and attract and retain top management talent;
• raising Oregon’s commitment to excellence in educating and training its knowledge-based workforce;
• expanding capacity to meet the growing demand for well educated knowledge-based workers; and,
• providing expanded education and training opportunities in all areas of the state.

Accomplishing these initiatives, the report states, may lead to a host of desired outcomes by 2010. Such outcomes would include doubling federal, state and industry R&D dollars; doubling the number of Small Business Innovation Research (SBIR) and Small Business Technology Transfer Research (STTR) awards; doubling the amount of venture capital per $1,000 per GSP; and, increasing the rate of U.S. patents per 10,000 businesses by 50 percent.

The full report will be presented to the governor and to the Legislature before the end of this year, as required by statute. OCKED also will present its findings to Gov.-elect Ted Kulongoski and leaders of the 2003 Legislature to encourage legislative support for its recommendations.

OCKED was established by the Legislature in the 2001 regular session to identify economic development opportunities and advise public officials and various state agencies in the promotion knowledge-based economic development in Oregon. The council's report is available at: http://www.ous.edu/cpa/OCKED/