|| Print ||
|Articles - March 2011|
|Wednesday, March 02, 2011|
Oregon offers tax credits to e-commerce businesses, movie producers, rural physicians and homeowners who buy wood pellet stoves. But a proposal to attack stubbornly high unemployment rates by providing incentives to people who create new jobs is gaining little bipartisan support in Salem.
House Bill 3053 would offer qualifying employers a $3,000 tax credit for each job created. The new employee would need to be previously unemployed and remain in the job for at least a year. Employers must prove they have been doing business in Oregon for at least two years and that the new hire is resulting in a net increase in jobs at the company.
“It makes common sense,” says Rep. Kevin Cameron (R-Salem). “It doesn’t cost the state a dime until someone gets hired. These are real people on the ground, going to work tomorrow, who are going to pay income taxes.”
Republican lawmakers are pushing the tax credits as part of a multi-pronged strategy to make the state friendlier to business. Cameron says he has received significant support for the idea from business owners. “I’ve heard from many people who are struggling or just hanging on and are waiting for that extra little incentive that will get them to hire someone.”
Democratic Senate president Peter Courtney has voiced support for direct incentives for job creation in the past. But few of his party colleagues have voiced support for HB 3053 this year. Rep Tobias Read (D-Beaverton), co-chair of the transportation and economic development committee, says the program would be ripe for abuse. “The problem is, you can’t ever tell whether you are unnecessarily subsidizing something that would have happened anyhow.”
Read says Democrats are taking a cautious approach to tax credits given the challenge of simply providing basic services. “Every dollar we authorize in tax credits is a dollar that we don’t spend on education,” says Read.
A recent state report examines a dizzying assortment of tax credits including a biomass tax credit that is costing the state $14.6 million in the current biennium, a tax break for people who donate to the Trust for Cultural Development ($7.2 million) and the mother of them all, the business energy tax credit ($185 million). At $3,000 per job, $185 million would equate to 61,667 jobs.
Thursday, June 26, 2014
Thursday, July 03, 2014
BY TED AUSTIN & MIKE BAELE | GUEST CONTRIBUTORS
The Office of Economic Analysis announced that Oregon is currently enjoying the strongest job growth since 2006. While this resurgence has been welcome, the lingering effects of the 2008 “Great Recession” continues to affect Oregon businesses, especially with regard to estate planning and business succession.
Thursday, July 24, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
With the increasing retirements of Baby Boomers, a massive real estate shift has created a significant increase in demand for NNN properties. The result? Increased demand has triggered higher prices and lower yields.
Monday, June 16, 2014
The Oregon economy could get a boost from a new trade agreement being negotiated between the U.S. and the European Union.
Friday, July 18, 2014
BY JASON NORRIS | OB GUEST CONTRIBUTOR
Back in May, we shared a common Wall Street quote about investing, “Sell in May and go away.” Fast forward to July and the most common question we have been getting from clients is, “When is the market pullback going to occur?”
Wednesday, July 09, 2014
BY LINDA BAKER | OB EDITOR
Scott Kveton, the CEO of Urban Airship is taking a leave of absence from the company. As the story continues to unfold, here’s our perspective on a few of the key players.
Monday, June 30, 2014
Oregon Business magazine won two silver awards for excellence in writing in the National American Society of Business Publication Editors Western region competition.
|The Private 150: Bigger But Leaner|
|The Perfect Food|
|Taxis Uber Alles?|
|Powerlist: Staffing Firms|
|Pfizer results beat estimates|
|Study: Running reduces risk of death|
|Zillow to acquire Trulia for $3.5B|
|Dollar Tree to buy Family Dollar|
|Facebook revenue surges 61%|
|Walmart unexpectedly fires CEO|
|GM profit declines 80%|
Vigilant enters a New Year with a new president.
How George Fox has become one of Oregon's largest private universities.
Forest Grove sees growth in the burgeoning food and beverage scene.
Lane Powell Shareholder Susan K. Eggum has been elected as vice chair of programs and projects for the International Association of Defense Counsel’s (IADC’s) Employment Law Committee.
Geffen Mesher is saddened to announce the passing of long-time shareholder, Tom “Mike” Anderson, who died on July 10, 2014, from liver disease diagnosed after recent heart surgery. He was 55 years old.
Fifteen Lane Powell attorneys have been named 2014 “Oregon Super Lawyers,” and another five attorneys have been named as “Oregon Rising Stars” by Super Lawyers magazine.