Split the money 3 ways:
~$300K for a marketing study and compilation of existing data of non-Oregon PERCEPTIONS about Oregon with respect to commerce, liveability, etc. - Find out what the non-Oregon investors, industrialists, corporations, bankers, etc think of Oregon.
~$200K to bring heads of Oregon commerce and government up to speed on the results with distribution and various public presentations (we're still not talking about solutions, only helping Oregonians understand how the rest of the world sees us). From those gatherings bring together a mix of 100 Oregon movers and shakers from as many commercial interests as possible throughout the state to brainstorm with the marketing and/or advertising firm. Select the top three perceptions to overcome in order to promote Oregon, and outline a marketing campaign plus a funding plan from Oregon resources (Oregon Growth Fund, Chamber of Commerce, etc) to pay for the campaign. This will also require the Oregon Legislature to see what it can do to help correct any barriers to commerce in perceptions.
~$500K - execute the marketing campaign across the US to promote Oregon as a resource and desireable location for companies outside Oregon to tap into, as well as for outside investors to choose to look at and seriously consider. More funding will likely be needed to fully execute this sufficiently but we need to identify and promote our strengths, correct our weaknesses (real and perceived) to foster a sound foundation of diverse commerce. We cannot survive if we are simply trying to be our own best customer, we must be seen as a valued resource by the rest of the US and world.