Oregon lawmakers are considering a $5 million program that would offer incentives to businesses that grow in or relocate to Oregon.
Oregon lawmakers are considering a $5 million program that would offer incentives to businesses that grow in or relocate to Oregon.
“I think it’s a very needed tool,” said Rep. Tobias Read, D-Beaverton, who argued that the state’s incentive programs are largely aimed at either very small firms or large capital-intensive companies like Intel that receive major property tax breaks.
Read and Sen. Richard Devlin, D-Tualatin, are the chief sponsors of Senate Bill 219, which would provide forgivable loans to medium-sized companies with above-average wages. The bill calls for a portion of the income taxes received from workers at the companies to flow back into a fund administrated by Business Oregon, the state’s economic development agency. Tim McCabe, the agency’s director, said he hopes to build the fund far beyond $5 million so that the state could offer incentives even during rough budget times.
Read more at OregonLive.com.
{biztweet}business incentive{/biztweet}
