2024-2025 Economic Equity Investment Grant Program

The Business Oregon is pleased to announce the availability of grant funding to organizations that provide culturally responsive services to provide outreach, support, and resources to eligible beneficiaries to provide assistance to address longstanding economic inequities. Donor Name: Business Oregon State: Oregon County: All Counties Type of Grant: Grant Deadline: (mm/dd/yyyy) 08/30/2024 Size of the Grant: More than $1 million Grant Duration: Grant Duration Not Mentioned Details: Successful applicants will demonstrate a meaningful track record of delivering programs or resources to target populations within at least one of the following key eligible areas: land ownership and other real property acquisition, including principal residences; entrepreneurship and business development; workforce development; or intergenerational wealth-building. Organizations selected to receive funds (Recipient Organizations) will be responsible for providing outreach, support and delivering programming and resources directly to eligible beneficiaries under one or more of the eligible areas. As detailed in ORS 285B.761, eligible beneficiaries consist of “disadvantaged individuals, families, businesses, and communities” whose future is at risk because of two of more risk factors, as outlined in detail below.  Awards to eligible beneficiaries must be aimed at narrowing wealth gaps, and preference will be given to (1) intermediary organizations that can demonstrate a track record of successfully delivering programs and resources that reflect the goals and aspirations of the EEIP and (2) can demonstrate the capacity and ability to complete their programs and expend all the EEIP funds before June 30, 2025. Unlike traditional programs focusing on poverty alleviation, the EEIP is a wealth-building program, prioritizing outcomes related to selfsufficiency, economic stability, and economic equity. Funding Information The $8 million allocated to the program currently represents a one-time investment by the Oregon State Legislature. Eligibility Criteria  Eligible applicants include:  Nonprofit and community-based organizations with active 501(c)(3) status, including organizations who are fiscally sponsored by a separate 501(c)(3)  Tribal Governments  Chambers of Commerce with active 501(c)(6) status  Municipalities, as defined by ORS 285A.010(12)1, located in rural areas of Oregon, as “rural” is defined by ORS 285A.010(14)2 Economic development or workforce development organizations with active nonprofit status. For more information, visit Oregon Business Development Department.