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
As identified previously, Greater Portland
currently affords a long-term sustainable
business environment with its existing tax
structure. However, it is also recognized that
incentives are often a factor in off-setting
upfront cost when choosing a location to
expand or relocate. 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 imple-
ments statewide strategies for economic
development that place particular emphasis
on investments that assist communities,
[traded-sector] businesses or industries in
cost-effective projects. The fund is used to
assist businesses with significant long-term,
regional, or statewide economic impacts to
provide interim financing mechanisms to
augment existing private sector programs.
This is a discretionary incentive subject to
application and approval by Business Oregon,
the State economic development department.
On-the-Job Training (OJT): On-the-job
training contracts are a great way to cut costs
and train new employees to meet company
standards. The Oregon On-the-Job Training
program allows the state to reimburse a business 50% of the cost of wages up to $4,000 for
multiple employees, while the business trains
the new hires to meet specific company needs.
From engineers, to software specialists, to
administrative staff and production workers,
on-the-job training can be used to support a
variety of recruitment needs for almost any
position. This program is subject to application and approval through workforce agencies.
Solid Foundation for Growth: The Greater
Portland region was recently identified as
one of the top 10 U.S. markets poised to
serve tech company needs. The metrics used
to inform this ranking include job and wage
growth, intellectual capital, innovation, and
the concentration of favorable amenities
such as walkability and access to transit.
WEST COAST BARGAIN
Globally connected, with the most modest
cost of doing business on the West Coast, the
greater Portland region enjoys a deep pool of
talent that continues to grow, due in part to
its high quality of place and comparatively
low cost of living. The median home sale
price is $305,000 (September 2015), and the
average monthly rent for a 1-bedroom apartment is $1,323 (October 2015).
UNIQUE REGIONAL
ADVANTAGES
With exceptional access to the outdoors,
emerging creative industries, and a productive
workforce, the region has defined itself as a
world-class destination for business and life.
Because of this culture, once employees come
to Greater Portland, they never want to leave.
Just a few of the unique regional advantages
include:
• Only year-round skiing in the United
States at Mt. Hood, which is only an hour
away.
• Over 350 miles of largely undeveloped
coastline, with guaranteed full public
access, as close as an hour’s drive.
•;A;food;lover’s;paradise:;More;than;50
farmers markets and organic restaurants,
112 wineries, and 360 coffee shops. Also,
numerous startups in the form of “food
cart pods” throughout the city allow entrepreneurs to launch a restaurant at low cost.
•;Over;280;mountain;bike;trails in Oregon
and Washington.
• A “Beervana”: With 53 breweries and
counting, Portland has more than any
other city on earth.
SMALL BUSINESS GROWTH
With strong support for locally and handmade
goods and niche markets, Portland has the
second-highest average revenue in the U.S. for
businesses with fewer than 250 employees or
under $10 million average revenue.
CONNECTIVITY TO THE REST
OF THE WORLD
Air service is easily accessible with the Port-
land;International;Airport;(PDX);less;than;9
miles from downtown Portland and accessible throughout the city via light rail. Airlines
flying from PDX offer service to 54 destinations nonstop, including direct flights to New
York;;San;Francisco;;Vancouver,;B.C.;;and
Washington, D.C. Daily international flights
run to Tokyo and Amsterdam. Travel + Leisure
magazine named PDX the overall favorite
U.S. airport in 2014, which now carries more
than 15 million passengers annually.
More than 200 weekly flights from Portland
serve San Francisco Bay Area destinations.
110 Flights to San Francisco
•;Earliest;flight;departs;at;5. 45;am,;latest
flight;departs;at;9: 25;pm
