Hill is appointed for OGA Board

Press Release Date: 
09/09/2010

NEWS RELEASE
Blue Mountain Community College,

Date: September 9, 2010
Contact:  Karen L. Hill, Public Relations, 541-278-5933 or 541-379-2753

FOR IMMEDIATE RELEASE

Arthur J. (Art) Hill of Pendleton has been appointed by Governor Ted Kulongoski to a three-year term on the Oregon Growth Account (OGA) Board. The Board is chaired by State Treasurer Ted Wheeler, and was created by the Oregon Legislature in 1995 to inject seed capital to launch and expand promising young Oregon companies. The funds come from the Oregon Lottery which, among other goals, finances economic development. Returns from OGA investments support the state’s Educational Stability Fund.

Pendletonian Stan Timmerman preceded Hill on the OGA Board and its predecessor, the Oregon Resource and Technology Development Fund. Timmerman retired in June of this year after over 25 years of service on both Boards. Since its inception, investments by the OGA in Oregon companies have totaled over $95 million through investment firms including the Oregon Angel Fund II and Endeavour Capital Fund III. The aggregate payroll produced by companies aided by the Oregon Growth Account equals $83 million a year.

Asked about his appointment, Hill responded "I am deeply honored to succeed Stan in helping to fund growing companies in our region and throughout Oregon. The OGA also directs its investment earnings to our state’s Educational Stability Fund. Growing companies and educational opportunities are two key drivers of economic growth in our State."

Hill has made Pendleton his home since 2001, serving as Vice President for Economic Development and Director of the Small Business Development Centers of Blue Mountain Community College. He holds an M.B.A. in Finance and is active on several other Boards including the Oregon Health Network, Oregon Workforce Alliance, and Pendleton Progress Board.

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