Salem, OR—Governor Kate Brown today detailed her support and the need for legislation that addresses access to capital, specifically for businesses owned by Black, Indigenous, and people of color (BIPOC), Tribal members, and other underserved entrepreneurs. This need was identified by the Governor’s Racial Justice Council’s economic opportunity committee, who worked to identify ways to support the long-term economic success of populations who experience systemic economic disadvantages in business creation and access to traditional capital and wealth creation.
“For small businesses owned by members of Oregon’s Black, Indigenous, Latino, Latina, Latinx, Asian, Pacific Islander, Native American, Tribal, and linguistically-diverse communities, access to capital has been a persistent struggle," said Governor Brown. "Promoting economic development and empowerment through grounding racial justice will help build equitable access to capital. It will also reduce barriers posed by collateral requirements, and enhance efforts to enable mobility and opportunity towards a safe, secure, and resilient quality of life in Oregon."
Governor Brown’s prepared remarks for the House Committee on Economic Recovery and Prosperity are available here