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July 27th, 2007
The council pitched eight projects that would need $38 million. The Legislature agreed to pay for seven of them, with the money going toward the following industries:
• Food: $4.3 million, most of it to establish a new nonprofit group to reinvigorate the food processing industry, and $900,000 of it to expand Oregon's seafood industry.
• Manufacturing: $2.9 million for research, development and training.
• Energy: $4.2 million to harness ocean waves for power needs. Goal is to build a commercial wave energy park with 500 megawatts installed in 10 years.
• New research centers: $5.2 million for the Oregon Translational Research and Drug Development Institute, and $2.5 million for the Bio-Economy and Sustainable Technology Center.
• Nanotech: $9 million to continue funding the Oregon Nanoscience and Microtechnologies Institute.
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