Community Capital introduction for Northeast Oregon audiences - Describes some forms of community capital, ways to make local investments and opportunities to participate and get involved.

1. Northeast Oregon
Community Capital
Collaborative
Baker, Union and Wallowa Counties
February 2014

2. Agenda

Welcome

Keynote – Amy Cortese

Tools to Implement & Examples

ChangeXchange Northwest

Opportunities to Get Involved

Networking and Discussion

3. Welcome & Background
Conducted community capital
research
 Discovered Springboard Innovation
and ChangeXchange Northwest
 Met with economic development
partners
 Determined community capital is
good fit for Northeast Oregon


4. Partners

Baker County Chamber of Commerce

Wallowa County Chamber of Commerce

Union County Chamber of Commerce

Wallowa County Business Facilitation

BMCC Small Business Development Center

Baker County Economic Development Commission

Oregon Rural Action

City of La Grande, Urban Renewal Agency

Union County Economic Development Corporation

Slow Food Wallowas

Northeast Oregon Economic Development District

Rural Development Initiatives

YOU ?!?

5. Collaborative Funders

Committed:


USDA Rural Business Cooperative Service


The Ford Family Foundation (TA)
Oregon Community Foundation
Requested or Will Request:

Pacific Power

The Ford Family Foundation (Implementation)

Economic Development Administration

6. Amy Cortese
Welcome to Northeast Oregon!

7. What Is Crowdfunding?

A donation/gift made to a business,
person, or organization

Kickstarter and Indigogo are
well-known examples

Businesses offer rewards in
exchange for money

ChangeFunder is a new site focused
on northwest companies

8. Rail Rider
 New
and different
 Attractive to many markets:
cyclists, rail enthusiasts,
nature-lovers, tourists
looking for something to do
 Relatively low-cost business
to start (~$30,000 in
equipment costs)
 Rewards could be discounted
or free rides

9. Lostine Tavern
 First
NE Oregon Campaign to be
featured on ChangeFunder
http://changefunder.missioncrowdfund.com/en
 Opportunity
for the local
community and friends near and
far to support the start-up
 Rewards
will be fun!

10. What Is a Local Impact Investing
Opportunity Network?
 Networking
with a purpose + Education
 Legal
method for investors and
businesses to meet and establish a
personal relationship before discussing
an investment opportunity
 Volunteers
needed to help organize
events and prepare businesses to talk
about their businesses in the spotlights

11. Investor Interest
 Woman
wants to localize some of
her retirement assets – has already
made a few loans
 Needs a way to find opportunities
for investment, values personal
interaction, part-time resident so
has fewer local networks
 She can make a loan or equity
investment into a business

12. What Is a Direct Public Offering?
Publicly raised capital from any investor
 Limit of $1 million
 State approval process
 Relatively low cost (~$25,000 for attorney
and accountant)
 Any stage of start-up or expansion
 Any type of investment offering, the
business owner structures the deal
(equity, profit sharing, debt)
 Completely legal (since 1934)
 Local: Data shows that 80% of investors
come from a 50-mile radius


13. Brewery Expansion

Popular, profitable, well-managed
brewery with a growing market share in
Oregon has opportunity to expand to
neighboring states

Needs $750,000 to expand facility
and purchase additional brewing
equipment and bottling line

Customers and investors believe in
potential of the business

14. What Is a Local Loyalty Point
Incentive System?

Fun way to reward customers for buying
locally

Retail, services, lodging, restaurants and
business-to-business

Businesses gain new customers and
retain more customers

Metrics document return-on-investment

Process is web-based and easy to use

15. Cross-Marketing Opportunities
Toy store and coffee shop discover
they have mutual customers
 Toy store rewards customers who
spend $40 with a cookie from the
coffee shop
 Few customers redeem the
cookie, but both businesses
benefit with greater
customer loyalty


16. ChangeXchange Northwest
 www.ChangeXchangenw.org

17. What’s Next?





Professional Orientations
– Attorneys, accountants, bankers,
financial advisors
Team Trainings
- Local Impact Investing Opportunity
Network
- Local Loyalty Point Incentive System
First LIION Events
Educational Events for Businesses &
Investors
Opportunities to Participate in
Community Capital System

18. Opportunities to Get Involved
 Leadership
 Marketing
 Local
Team
& Communications Team
Loyalty Point Incentive System
Team
 Local
Impact Investing Opportunity
Network Team
 Education
 Attend
Team
a LIION or Educational Event

19. Brand/Image
What image or words come to mind
when you think of the
Baker, Union and Wallowa County
region?
Please share your ideas by writing or
drawing them on one of the flip charts.

20. What Do You Think?
 Is
this an effort that Wallowa
County should pursue as a
collaborative project and
request implementation
funding from The Ford Family
Foundation?

21. Networking & Discussion
Questions or input? Contact:
Lisa Dawson
Northeast Oregon Economic Development
District
541-426-3598
lisadawson@neoedd.org