Despite its struggles in Portland, the Beaver State still holds great economic potential and has seen several notable announcements in the past year by companies like Facebook, Amazon and Genentech. The state is doubling down on its potential for innovation with new investments and initiatives like the Oregon Innovation Plan.
Strategic Reserve Fund (SRF): Offers a flexible tool for job retention and creation, often used as forgivable loans helping businesses expand in Oregon.
Business Expansion Program (BEP): Offers a cash incentive based on the estimated increase in new per- sonal income tax revenue resulting from the new hires.
Enterprise Zones: Offers a three- to five-year ex- emption from local property taxes on new plant and equipment for expansion with longer terms available in rural areas.
Strategic Investment Program (SIP): Exempts a portion of very large capital investments from property taxes for 15 years.
Oregon Investment Advantage (OIA): Helps business- es start or locate new types of operations in a number of counties by providing an income tax subtraction, potentially eliminating state income tax liability on new operations.
www.oregon.gov/biz
oedd.org
prosperportland.us
sedcor.com
Developed by the Futures Commission, the Oregon In- novation Plan aims to orient the state economy around innovation. The four strategies are to foster ideation, strengthen the innovation ecosystem, catalyze risk capital and promote the state as place to start and grow an innovative company.
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