The Port of Portland Commission approved tax breaks for Rentrak Corp. in order to keep the company from moving its headquarters to Washington.
The property tax break will be worth $35,000 to $65,000 over the next five years.
Rentrak, which tracks entertainment and advertising data, has applied for inclusion in Portland’s enterprise zone, which would make it eligible for a property tax abatement and corporate income tax credit.
The company occupies 3.66 acres on Northeast Ambassador Place, adjacent to Cascade Station, on Port-owned land. It has 230 workers, and its proposed $500,000 to $1 million expansion will result in another 50 hires.
Inclusion in the enterprise zone makes Rentrak eligible for a 25 percent income tax credit on the value of new investments in electronic commerce, up to a cap of $2 million.
Read more at OregonLive.com.