languages such as iOS, Android,
HTML, CSS, WordPress, PHP,
Python, JavaScript, Ruby, and more
for skills in web design, app design,
and software development. Worksys-tems, the local workforce development
organization, will sponsor up to 10,000
students, providing additional career
services, mentoring, and training to get
those students job-ready.
COST COMPETITIVENESS
Greater Portland is more affordable for
company operations when considering
all operating and capital costs.
Business Taxes
Nearby Southwest Washington has no
corporate income tax, no corporate
alternative minimum tax, no personal
income tax, and no inventory tax. Due
to these tax structures, Oregon is the
11th best state and Washington is the
12th best state for business tax climate
in the country by the Tax Foundation.
According to the Ernst & Young LLP
COST Study for Fiscal Year 2014,
Oregon has the lowest total effective business tax rate imposed on
business activity by state and local
governments.
Single Sales Factor
Oregon businesses are taxed on a
portion of their total income derived
from sales within the state of Oregon.
This corporate income tax is considered “Single Sales Factor” tax, as it
considers only Oregon sales in determining corporate income taxes owed
to the state. Other states often include
additional assets and payroll, making
them “multi-factor” taxes.
This aspect of the corporate income
tax has a tremendous impact for multi-
state companies based in Oregon. If
a company is located in Oregon but
sells products throughout the United
States or internationally, that company
pays only Oregon corporate income
tax based on the amount of income
coming from sales within state lines.
Incentives
Greater Portland currently affords a
long-term sustainable business environment with its existing tax structure.
Additionally, the following programs
are available in certain areas in the
region for qualifying companies:
Enterprise Zone (E-Zone): This tax
incentive provides a 100% property tax
abatement for 5 years on all new qualified investment within the designated
Enterprise Zones. Incentive is based
on qualified investment and job retention and/or creation. This incentive
requires the completion of an application. Approval will occur within 30
days for all properties in the designated Enterprise Zones.
Business Expansion Program (BEP):
Per ORS 285B.600, this program
provides forgivable loans to certified
employers to allow for expanded operations and increased hiring. Criteria
for certified employers include the
following:
• Has at least 150 employees;
• Plans to hire at least 50 new
full-time employees in this state
whose compensation will average
at least 150% of the county or
state average in annual per-em-ployee compensation, whichever
is less;
• Operates in an industry in the
traded sector, as that term means
“industries in which member
firms sell their goods or services
into markets for which national or
international competition exists.”
Strategic Reserve Fund (SRF): Per
ORS 285B.266, the Strategic Reserve
Fund implements statewide strategies
for economic development that place
particular emphasis on investments
WELCOME
to GREATER
PORTLAND
Situated in one of the most beautiful
corners in the world, Greater Portland is a
magnet for innovative minds. World-class
companies, abundant natural resources
and breathtaking landscapes are part of
this maker’s paradise. Add affordability,
multimodal transportation and well-rounded communities, and Greater
Portland has everything you need.
As the regional economic development
entity for the Portland-Vancouver
metro, Greater Portland Inc (GPI)
markets our world-class assets to
companies looking to relocate, expand
or grow their business.
Companies such as Subaru, Airbnb, and
Salesforce have joined Nike and Intel in
expanding into Greater Portland. Our
region’s workforce is rising, with educated
professionals moving here at six times
the national average. In fact, last year
Oregon was the most popular moving
destination in the country in 2015.
The job market is booming. In 2015, the
region created jobs at the rate of 3.8%,
the second-fastest job growth among the
50 largest U.S. Metros. Additionally, the
cost of doing business is the lowest of all
major metropolitans on the West Coast.
This is just the beginning as to why
companies are flocking to Greater
Portland. Professionals benefit from an
exceptional quality of life that includes
outdoor recreation and an unrivaled
food and beverage scene. With all this
and more, it’s no surprise Portland was
named USA’s coolest city by International Traveller.
When you’re ready to learn more on why
work and life don’t have to compete in
Sincerely,
Janet LaBar
President and CEO
Greater Portland Inc