The State of Oregon, Lane County and Florence offer key incentives for businesses interested in opening or relocating. According to the Tax Foundation, a non-partisan research institution, Oregon’s tax structures rank 11th in the U.S. for business friendliness. Businesses will find that Oregon has designed its tax codes to attract and retain companies. As a result, Oregon state tax structures rank in the top cohort of the nation for business-friendly tax structure.
Enterprise Zone - The Florence Enterprise Zone provides two to three years of tax exemption on site and building improvements that manufacturing and production businesses that increase employment and compensate new hires at a higher than average wage. This exemption is also extended to lodging, unlike many other Enterprise Zones in Oregon.
Strategic Investment Program - This program is available anywhere in Oregon. For fifteen years, SIP exempts from property taxes all of the investment in excess of $25 million in rural areas, or $100 million in urban areas. The benefitting business firm must pay an annual community service fee equal to 25% of the abated taxes, up to a maximum of $500,000 (rural) or $2,000,000 (urban) per year. The State Economic & Community Development Commission makes the final determination of SIP tax treatment, either pursuant to a project-specific agreement with county (and city) government(s), or directly for property located in a designated Strategic Investment Zone, for which local additional requirements, if any, would be pre-established.
Governor Strategic Reserve Fund – Per ORS 285B.266, for qualifying companies, flexible resources to assist companies looking to expand.
Governor Business Expansion Program – Per ORS 285B.600, for qualifying companies, provides forgivable loans to certified employers to allow for expanded operations and increased hiring.
Construction -In- Process Property Tax Abatement - An annual filing with the county assessor can exempt non-utility business facilities from property taxes for up to two years, while any such facility is under construction and not in use on January 1 of the assessment year. This exemption is generally available for manufacturing projects anywhere in the state, including heavy machinery and equipment located at the unoccupied facility on January 1, and it can cover all qualified property in the process of construction or installation as part of any authorized enterprise zone project.
Film Production - The Oregon Production Investment Fund rebates 20% of Oregon-based production expenses and 10% of wages paid. The Greenlight Labor Rebate offers qualifying productions an additional cash payment of up to 6.2% of Oregon payroll for productions that spend more than $1 million.
Governor's Strategic Training Fund - This fund supports the retention and growth of living wage jobs, a skilled workforce, and competitive businesses in Oregon. It is a flexible, responsive and time-sensitive resource for training Oregon’s private-sector workforce. The emphasis is to upgrade skills of the workforce in order to increase productivity, keep Oregon’s businesses viable and competitive, and offer new skills and opportunities to Oregon’s workers. The Employer Workforce Training Fund is for strategic company expansions that show the potential for long-term growth in Oregon. Projects may range in size but must have a significant impact on the regional economy in which they are located.
Dependent Care Tax Credit - Oregon is among 20 states in the nation that offer a state tax credit for dependent care assistance provided to employees. Oregon’s tax credit permits an employer to offset 50% of its child care expenditures against its state tax liability. The credit allows an annual limit of $2,500 per employee.
Lane County Economic Development Strategic Investment Program - This program provides new or existing businesses and nonprofits with grants for job creation and workforce training. It is limited to Lane County. A developed business plan is required, and the average grant size is $50,000. This program also requires a match.
South Coast Development Council, Inc. – The South Coast Development Council is an economic development clearing house with the goal of maintaining and improving the economic viability of the Southern Oregon Coast. SCDC is a private, non-profit organization committed to supporting and enhancing a strategic mix of diverse industries and businesses. Additional incentive opportunities may be identified by this organization.