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Port grants Rentrak tax breaks

The Port of Portland Commission approved tax breaks for Rentrak Corp. in order to keep the company from moving its headquarters to Washington.

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.

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Last modified onMonday, 19 October 2015 11:39
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