It’s Time for Oregon to Lead in Clean Tech with HB 4112!
Right now, Oregon has a historic opportunity to lead in the manufacturing of in-demand clean energy technologies. By leveraging federal funds under the Inflation Reduction Act, the Clean Technology Leadership bill (HB 4112) will boost Oregon’s competitiveness to help land billions of dollars in investments in this strategic sector.
Oregon’s opportunity to lead
The federal Inflation Reduction Act includes $60 billion in incentives for domestic manufacturing across the clean energy supply chain. Companies around the world are seeking to harness these dollars to expand or establish clean technology manufacturing facilities in the United States. Oregon lawmakers have a vital role to play in ensuring that as much of this economic growth, job creation, and prosperity comes to Oregon communities as possible.
The 2023 Legislature’s “Oregon CHIPS Act” is a strong example of recent legislative action to harness federal funding to promote local industries and economic vitality. The legislature can and should apply the same level of enthusiasm toward leveraging federal Inflation Reduction Act investments to support growth in Oregon’s existing clean energy economy.
In this short session, we urge Oregon’s leaders to adopt the Clean Technology Leadership bill (HB 4112), and position Oregon to lead in developing and delivering clean energy technologies.
The solution
The 2024 Clean Technology Leadership bill (HB 4112) offers a trifecta of solutions to maximize Oregon’s competitiveness in attracting, expanding, and sustaining new and existing clean energy technology manufacturers.
- Incentives: Creates an Opportunity Fund within Business Oregon to support companies in establishing, retooling, or expanding clean energy technology manufacturing facilities in Oregon. A down payment of $20 million will increase Oregon’s competitiveness in securing roughly 40x that amount in federal incentives.
- Procurement: Directs the Department of Administrative Services (DAS) to develop a statewide policy for evaluating and procuring zero-emission technologies. The new policy will promote clean tech job creation and manufacturing in Oregon.
- Advisory Council: Establishes a statewide advisory council to support a public-private partnership around clean energy technology manufacturing. The council will identify policies and tools for Oregon to attract, grow and sustain these clean tech companies.
Statewide impact
Oregon’s down payment of $20 million will increase our state’s competitiveness to secure our fair share –roughly $768 million (almost 40x more!)– of federal Inflation Reduction Act investments. Plus, this bill will help Oregon communities statewide. HB 4112 will:
- Create and sustain family-wage jobs
- Jumpstart local business and economic growth
- Improve public health and climate preparedness
- Address supply chain constraints
- Diversify Oregon’s economy
- Promote affordable access to clean energy technologies
OEC and a broad statewide coalition of partners will continue to advocate for the successful passage of this important bill! Make sure you’re signed up to receive OEC’s Grassroots Action Information Network (GAIN) action alerts. We’ll share updates and ways for you to make your voice heard on this critical issue.
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