The Oregon House Committee on Economic Development, Small Business, and Trade convened on March 19, 2025, to discuss significant advancements in the state's economic initiatives, particularly focusing on the Oregon CHIPS Fund. The meeting highlighted the fund's impact on local businesses and the broader economy, showcasing a commitment to innovation and workforce development.

During the session, officials reported that the Oregon CHIPS Fund has awarded nearly $148 million across 21 companies in two funding rounds during 2023 and 2024. Currently, there are 10 active agreements, with two more expected to be finalized soon. The fund is also contributing to the CHIPS childcare fund, with a $5 million transfer, and plans to allocate an additional $10 million to support workforce programs in the semiconductor sector.

The committee emphasized the importance of these investments, noting that they are fostering significant industry growth across five counties in Oregon. The projects are aimed at establishing, expanding, and modernizing manufacturing and supply chain facilities, which are crucial for driving innovation and increasing production capabilities in the state.

Among the companies receiving support are both established giants and promising startups. Notably, TOKA, a Japanese subsidiary, and Quantum Metrology, a local startup, exemplify the diverse range of businesses benefiting from the fund. The committee expressed enthusiasm about the collaboration between large corporations and homegrown innovators, which is vital for Oregon's economic landscape.

The meeting also addressed the successful acquisition of federal funding through the CHIPS Act, with Oregon companies securing five awards. These projects are expected to have a substantial impact on the state's economy, with initiatives like the HP Lab2Fab project in Corvallis demonstrating strong partnerships among industry, academia, and government.

In conclusion, the Oregon CHIPS Fund is playing a pivotal role in enhancing the state's economic development, supporting both established and emerging companies, and fostering a collaborative environment that promises to drive future growth and innovation. The committee plans to provide further updates in September 2025, as they continue to monitor the progress of these initiatives.