From the Governor
“Oregon continues to show the world that our state is a great place to live, visit and do business. Oregon businesses and workers develop world-class products and ideas—and that’s something to celebrate.” —Gov. Kate Brown
Growing in the Northwest
A high quality of life and a thriving economy have been spurring population growth in the Beaver State. Gov. Kate Brown recently announced a $300 million workforce initiative to help close the growing skills gap. Coinbase, designaffairs and Element Six have announced projects here in the past year.
Enterprise Zone: Offers state tax exemptions on property and equipment for up to five years for companies that invest and hire in an enterprise zone.
Business Expansion Program: Offers a cash-based forgivable loan equivalent to the estimated increase in personal income tax revenue from hiring over two years.
Strategic Investment Program: Exempts a portion of large capital investments from property taxes for a period of up to 15 years.
Oregon Investment Advantage: Offers an income tax reduction over several years for new operations in the state.
Business Oregon: oregon4biz.com
Oregon Economic Development Association: oeda.biz/index.php
Prosper Portland: prosperportland.us
Strategic Economic Development Corp.: sedcor.com
Highlighted Program or Initiative
In September 2018, Gov. Kate Brown announced the Future Ready Oregon policy agenda to help close the skills gap, with an additional $300 million investment to expand technical education and career-connected learning to every high school student in Oregon.
- Boat manufacturer ReconCraft broke ground in October 2017 on a manufacturing facility in Estacada.
- Synthetic diamond manufacturer Element Six announced in May 2018 it will construct a $94 million advanced manufacturing facility in Gresham that will create 60 engineering and technician jobs.
- Coinbase announced in June 2018 it will break ground on a Portland office that will create as many as 100 jobs.
- Designaffairs, a consultancy based in China and Germany, announced in June 2018 it will open a studio in Portland that will employ 30 people within three years.
Daimler Trucks North America
Two Fortune 500 companies are headquartered in the state:
“We’re working to create an open financial system for the world, and best-in-class talent from across the Portland community will be critical to this mission…. One of the reasons we chose Portland is because of the city’s commitment to providing equal opportunities for all, which mirrors our values at Coinbase.” —Tina Bhatnagar, Vice President of Operations and Technology, Coinbase
“We selected the Portland region based on critical success factors such as competitive power distribution, access to a high-quality talent pool and strong support from the city of Gresham and other local partners.” —Ken Sullivan, Operations Director, Element Six