Portland to tax new construction, corporate tax may be good for job growth.
OREGON NEWS
Taxing solution. Portland has another new tax. On Wednesday, the City Council approved a 1% tax on new residential and commercial construction. The tax revenue, estimated at $8 million annually, would fund affordable housing projects. The council will consider another proposal today, a potential housing funding measure for the November ballot. The proposal would allow Portland to sell $258 million in bonds. Read more from OPB.
A positive spin. Portland State University has released an analysis of Initiative Petition 28 that casts a brighter shadow on the corporate tax proposal. The report states the $3 billion-a-year tax will prevent some private sector job losses, while fueling job growth in the public sector. The study predicts the site would lose 17,000 private sector jobs — instead of the 38,000 predicted by the legislature — while adding 30,000 government jobs, 12,000 more than predicted. The Register Guard has more.
Track and field. For the third time, Eugene is preparing to host the U.S. track and field Olympic trials. More than 1,100 athletes are making their way to the Oregon city, where they will spend two weeks competing at Hayward Field. The Bend Bulletin has more on what to expect.
Meanwhile, Eugene budget writers are asking for more details on a proposal to allot $500,000 to prepare for the 2021 championships. City Manager Jon Ruiz said he doesn’t have specific plans, but intends to use the event to spark progress toward the city’s long-term goals. Read more from the Register Guard.
In other sports news. Adidas has extended its partnership with Kayne West, creating the largest partnership with a non-athlete to date. The line, “adidas+ KANYE WEST,” will include fashion wear and athletic gear. West has been in business with Adidas for two years, since launching the Yeezy for Adidas shoe. Read more from CNN.
Waste not. Marion County has approved a proposal to accept 50 million pounds of medical waste annually in exchange for about $3.4 million. The waste will be brought in from out of state, and burned at the Brooks garbage incinerator. There is a concern for increase air toxicity with emissions from burning, but County Commissioners say the facility is well equipped to manage the increase contaminants. The Statesman Journal has more.
B Lab initiative. The nonprofit behind B Corps launches a media division. Editor Linda Baker speculates on the impact for business and journalism.
Sprawl tax. There’s a price to pay for uncontrolled suburban development. Read Joe Cortright’s guest opinion.
NATIONAL NEWS
Snack giant. Mondelez, best known for the Oreo, Cadbury, and Reese’s, wants to purchase Hersheys. If the two candy makers joined forces, it could result in a company with $37 billion in annual sales. Just the rumor of the sale has increased Hershey’s stock by more than 18%. Read more from Fortune.
Stopping technology. Apple has filed a patent to temporarily disable user cameras at live shows. Using infrared emitters in the venue, the sensors would disable recording functions on those devices. The concept could be applied to other marketplaces, such as preventing photography in government facilities, but the patent is specifically for live shows. NPR has more on the background.
