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Oregon Business Development Department (Business Oregon) officials have given final approval to a $50,000 grant to Miles Fiberglass & Composites, of Clackamas County to create 20 new jobs.
Miles Fiberglass, located in Happy Valley, produces composite and fibreglass products using a variety of techniques. Recently, the company, which employs about 75 workers, broadened its products into the renewable energy sector to include various wind industry components as well as well as providing contract repair service technicians. Some component parts that the company has the capability of producing include nacelles, blades and blade caddies.
“”We will be qualifying for this program by hiring a total of 20 people for the expansion of our Ice Energy product line, the United Streetcar component parts and Wind Turbine Field Service Repair Technicians division,”” said Lori Luchak, the President of Miles Fiberglass & Composites. “”The Boost grant allows us to continue to hire more people as we ramp up in each of these areas.””
“”Business Oregon’s top priority is to help existing Oregon companies create and retain jobs for Oregonians,”” said Business Oregon Director Tim McCabe. “”We have had a good response thus far to the new Boost program, and I want to encourage Oregon businesses to visit our Web site or speak to a member of our team to find out how we can help grow your business.””
Business Oregon officially launched Boost—Building Opportunities for Oregon Small Business Today Fund—on June 1 to offer more financial resources to help Oregon small businesses access much needed capital. The Oregon State Legislature created Boost earlier this year when it passed House Bill 3698 sponsored by House Majority Leader Rep. Mary Nolan of Portland. Interest in the program increased in July and Business Oregon has now received six loan applications totalling $500,000 as well as six grant requests, which if approved, will create 80 new jobs in the state.
“”Since Boost started, we’ve seen interest from small businesses in Oregon increase steadily, and results are already evident,”” said Nolan. “”We don’t intend for the public sector to be the primary issuer of credit to small businesses, but when banks are ignoring decent businesses, Boost is exactly the right fix.””
The program is designed to promote better access to working capital that results in immediate job growth and job retention. Business Oregon will provide small businesses both loans – for businesses seeking permanent working capital and grants – for businesses that can create new, permanent full-time jobs here in Oregon – under Boost.
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