Commission Meeting. December 15, 2017 Port of Portland

Transcription

1 Commission Meeting December 15, 2017 Port of Portland

2 welcome Kanth gopalpur

3 Director s report Chris harder

4 Strategic Plan Implementation Plan released Teams developing work plans Metric methodology

5 [video will be played] Eastern Oregon PopUp Office

6 Small Business Financing Past Quarter

7 Public Infrastructure Financing Past Quarter

8 Recent RFPs Rural Opportunities Initiative (ROI) SBIR/STTR matching grant program High Impact Opportunity Grants through Oregon InC

9 Budget & legislative update Nick batz Ramona rodamaker

10 2019 Session LC/POP Key Dates LC: Legislative Concept POP: Policy Option Package Now through February 19, 2018 Staff developing LC and POP concepts March 16, 2018 Present LCs/POPs to the Business Oregon Commission April 13, 2018 Submit LCs to Department of Administrative Services July 2018 Present Budget including POPs to Commission August 2018 Complete and submit final budget document

11 Oregon growth board Gerry Langeler, ogb chair

12 What is the Oregon Growth Board? OGB Has Two Main Elements OGA and OGF Lottery Dollars OR Ed Fund; (10% of 18% = 1.8%) Higher Ed CC OGA Dividends Fill Capital Gaps Legislature Created Oregon Growth Fund OGF Economic Development

13 The Oregon Growth Board The OGA invests in funds to fill OR capital gaps, create familywage jobs, and provide returns to Oregon Education Lottery Dollars (10% of 18% = 1.8%) Investments In Funds Investments In companies OGA VC/PE Fund Managers Portfolio Companies OR Ed Fund; Higher Ed CC Dividends Returns on each Fund as a whole (usually 7-8 year cycle) Successful companies IPO or M&A

14 Oregon Growth Board is Delivering on its Mission by Funding the Funders Consistently supporting Oregon Education Generating a profit on the total portfolio Creating more high-wage Oregon jobs Backing more Oregon companies Closing capital gaps, all across the State Broadening the base of those impacted 14

15 Added Investment Scale and Leverage Side letter modified Total OGA $97.7M $105.0M $119.0M invested capital $ invested in $199.8M $232.2M $253.6M Oregon by OGAbacked funds Impact ratio 2.0x 2.2x 2.1x ($ in vs. $ out) OGA funds total $1.3 billion $1.4 billion $2.1 billion capital (potential (10.5x) (11.0x) (14.2x) leverage) Without sacrificing Oregon focus

16 Investing in more firms, creating more, better jobs, while also growing the tax base Companies backed Employees Cost /job $46K $42K $30K Ave. Salary $76K $61K $69K Oregon taxes $11.6M $9.5M $14.8M generated Note: Economic development data is self-reported by each fund, and is not subject to independent auditing by OGB

17 Oregon Growth Account has dug out of huge early hole OGA IRR by fund vintage year range Recent funds 10.0% exceeding PERS 5.40% target (7.2%), even 5.0% 1.30% in early years 0.0% 8.90% With added -5.0% important Oregon -10.0% business and jobs benefits -15.0% -20.0% -25.0% -30.0% % Bubble era ( ) All funds (1999-present) Post bubble ( )* Recent funds ( )* Post bubble and Recent funds include many still in J curve (low returns in early years, higher in later stage of fund cycle) Data as of 12/31/16

18 OGA Portfolio Investments Based in Oregon Oregon Angel Fund Portland Seed Fund Cascade Angels Women s VC Fund Seven Peaks Ventures Ecotrust Forests Smarsh Salt & Straw Wildfang Ruby s Receptionists Sightbox Onion Peak Forest Invests in Oregon Goode Partners K1 Updata Enlightened Hospitality Investors Phoenix Ventures Sampling of Companies Cairn Act-On HerbPharm Green Zebra Grocery Iotas Desolation Forest

19 OGF Portfolio Investments Loans MESO Craft 3 Ascent Funding Community Lending Works Blendoor Goumikids Hemex Health Moonshadow Mobile Madorra FINEX Equity Angel Conferences BVC Social Impact Elevate Inclusive Fund Cascade Angels TiE TAP Fund Sampling of Companies Bent Enterprises All About Flagging LeadMethod Amplion Research OpConnect Hubb

20 Port of Portland Curtis Robinhold, Port executive director

21 PORT OF PORTLAND

22 Our Mission To enhance the region s economy and quality of life by providing efficient cargo and air passenger access to national and global markets, and by promoting industrial development.

23 Our Facilities Troutdale Reynolds Industrial Park Troutdale Airport Hillsboro Airport Gresham Vista Business Park Portland International Airport Terminal 2 Portland International Center West Hayden Island Swan Island Rivergate Industrial District Terminal 6 Terminal 4 Terminal 5

24 Our 3 Big Opportunities 1. Build an airport for the next generation 2. Revitalize marine business 3. Promote economic development and quality of life

25 13 PDX International Nonstop Cities Reykjavik KEF Calgary YYC Amsterdam AMS Vancouver YVR PDX Toronto London LHR Frankfurt FRA YYZ Tokyo NRT Hong Kong HKG Los Cabos SJD PVR Puerto Vallarta GDL Guadalajara Mexico City MEX

26 PDXNext Terminal Balancing Concourse E Extension 60% Design Quick Turn Around Facility Construction Terminal Core Planning South Side Improvements Conceptual Planning Parking Additions & ConRAC Design Underway

27 Creating Options for Shippers at Terminal 6 Berth 601 Berth 603 Berth 604 Berth 605 Berth 607 Multi-Use Facility Auto Imports and Exports Container Capabilities Auto Imports Intermodal Yard

28 Promoting Economic Development

29 Portland Harbor Cleanup: Terminal 4

30 Questions?

31 Public comment, closing, adjourn Kanth Gopalpur

32