Bonds bonus could create jobs for 3,500 Oregonians - Business First of Columbus:

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The program, part of the Americahn Recovery andReinvestment Act, givez businesses and individuals the chance to purchase bonds that give them federalp tax credits in addition to their bond It could also give holdersx higher interest rates in exchange for allowingy issuers to receive tax credits as direct payments. the program needs a bit of fleshing out. Few area governmenft officials had even heard ofthe program. “We are just now learnint the details of these bonds and still have more analysito do,” said Philip Bransford, a Washington Counthy spokesman. “Garden variety bond financing is usually and this is not gardenvarietgy financing.
” The stimulus upshot is that local governments will obtain financing for economic developmenft projects. Sen. Ron Wyden, the Oregon Democrat who helped authorthe bill, said most of the fundsd will help build and repair the area’as infrastructure. “Making this substantial amount available tothe nation’s hardest-hity areas will surely speed up improvements to the nation’s agingt infrastructure and ailing economy,” Wydej said. “Oregon will see many jobs created and communities improvedf as these bonds are used tofinancd bridge, road, water, school, and transit projects all over the state.
” Businesseds in Portland working on recovergy zone projects could collect up to $20.3 million. Washington County could receive $19.2 million, while Clackamas Count y could receive $13.3 million. Businesses in Multnomah Countuy couldreceive $5.4 million while Clark Count y businesses could collect $3.9 million. Oregon is also expectede to receiveanother $155 million in funding from Recover Zone Facility Bonds, aimed at boosting job growth in slumping states. Nearly one out of eighg Oregonians is out of That makesthe $28.5 million worth of unemploymengt insurance via the federal stimulus packagr that much more welcome. The funds will help Oregobn tweak its unemploymentinsurance system.
The U.S. Labor Departmen issued the stimulus funds after revamping the way unemploymen insuranceis issued. The stat now bases unemployment dollar amounts on how much a recipientfrecently earned, which often means individuald can receive more money. Previous formulas tended to provid recipients with fewerunemployment benefits. It’s up to the Oregom Employment Department whether to use the money to providew more benefits or moreemployment services. The allotment is part of $7 billionb in unemployment “modernization” made possible through the stimulus act. For more visit http://www.doleta.gov/recovery/.