Media Release

October 29, 2009

PDC's Economic Opportunity Initiative receives national award

The Economic Opportunity Initiative (EOI), an innovative, outcome-based poverty reduction program managed by the Portland Development Commission (PDC), has received the 2009 Human Capital Award from the International Economic Development Council (IEDC).

“The EOI program at PDC has developed productive, responsible citizens and new taxpayers of people who seemed destined to be tax burdens on the city. The benefits and savings to the community from a fairly small three-year investment far exceed the alternative costs in law enforcement, safety net services, family services and other public expenditures,” said IEDC board chair Ian Bromley. “We tip our hats to the Portland Development Commission’s program for its superior work during these difficult times.”

The EOI is designed to significantly increase the incomes of very low-income residents (for example, in the city of Portland, a family of four earning under $34,000). Currently, twenty-six non-profit providers, funded through EOI, administer thirty-four community-based projects that provide customized technical assistance to microenterprises, and career coaching, training, and employment services to workforce participants. More than 2500 individuals were enrolled in the program in fiscal 08/09, with each participant receiving assistance for three years. Income or business revenue is measured quarterly. EOI staff and providers meet frequently to share strategies and address resource gaps and common training needs.

The International Economic Development Council (IEDC) is headquartered in Washington, DC. Its mission is to provide leadership and excellence in economic development for communities, members and partners. IEDC's professional economic development awards annually recognize excellence in the economic development profession.

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PDC was created by Portland voters in 1958 to serve as the city’s urban renewal agency as laid out in Chapter 15 of the City’s Charter. PDC provides comprehensive housing, development and economic development programs within the Portland region.

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