Port Planning & Marketing Fund
This grant program helps ports fund planning or marketing studies related to expanding their trade and commerce activities. This includes developing and marketing facilities and services that support important industries in the state, including:
- wood products
Who Can Apply?
Any port incorporated under ORS Chapter 777 or 778 may apply for funding.
Funding and Uses
Funding is provided through a transfer of the interest earned on the Oregon Port Revolving Fund. The Port Planning and Marketing Fund is primarily a grant program. Grants from the Port Planning and Marketing Fund are capped at $50,000 or 75 percent of the total cost of the project, whichever is less.
A 25 percent local cash match is required for all projects.
Half of the funds available annually in the Port Planning and Marketing Fund are reserved for high-priority projects (see list below). These funds are reserved for the first four months of the state fiscal year, after which any remaining funds may be made available for other eligible projects.
To be eligible, projects must:
- enhance the port's ability to conduct trade and commerce;
- lead to economic diversification, development or new or emerging industry, or redevelopment of existing public facilities;
- be consistent with any applicable county or city comprehensive planning;
- not duplicate the marketing efforts among ports unnecessarily;
- not be used to subsidize regular port operating expenses; and
- not require or rely on continuing subsidies from the IFA.
The following are considered to be high-priority projects by the IFA:
- Development of strategic business, marketing or financial plans for ports
- Updates to such plans that are required to keep the plans current for a period of five years
- Regional or cooperative projects that benefit more than one port
- Projects that leverage other marketing and development efforts by the state or other government units
Note: Projects must meet the standards set by the Peer Review Committee. The Peer Review Committee consists of three representatives from Oregon ports that set the standards for projects and reviews the final products prior to disbursement of final payments.
How and When to Apply
Applications for funding through the Port Planning and Marketing Fund are accepted year-round. The following outlines the application process:
Step 1: Contact your regional development officer. A Project Notification & Intake form will need to be completed.
Step 2: Submit the Intake form. The IFA reviews the form to make sure eligibility for the funding program has been met. A financial review will then take place to determine if the applicant has the ability to repay a loan.
Step 3: Award. A letter will be sent notifying the applicant of the award amount, the terms and any conditions of the award. Contract documents will be sent to the applicant for signature.