The Business Expansion Program (BEP) offers a qualifying company a cash incentive equal to the first two years of projected Oregon income tax revenue from the company’s new hires due to a business expansion, or relocation into the State of Oregon. This program is discretionary and subject to funds availability. The program eligibility is:
The company plans to hire 50 or more new employees in Oregon.
The company has 150 or more employees at the time of eligibility.
The company’s wages are 150% of the State of Oregon average, or county average wage, whichever is less. (150% equals $52,722 in Jackson County, or $46,842 in Josephine County)
Company must be Traded Sector (non-retail).
Corporate Headquarters do qualify.
Strategic Investment Program: The Strategic Investment Program (SIP) exempts a portion of large capital investments from property taxes. The program is available statewide for projects developed by "traded-sector" businesses, most often used for manufacturing firms. "Traded sector" is defined in Oregon law as "industries in which member firms sell their goods or services into markets for which national or international competition exists."
Available statewide for any project by any Traded Sector Business, including manufacturing.
Property tax exemption lasts for 15 years.
Agreement is subject to a community service fee.
Minimum capital improvement threshold starts at $100 million, if the project is located inside the urban growth boundary of a metropolitan city. In Rural areas, the minimum threshold is $25 million.
Oregon Investment Advantage, Income Tax Exemption: An eight-year state taxable income exemption is available for a certified business in Jackson County. To qualify, a business must not operate another facility in Oregon under the same name as the proposed / qualifying facility must not compete with existing businesses in the local area where the facility is located, and must hire five or more new full-time year-round employees. At least 5 employees must receive annual compensation (wages plus non-mandatory benefits) equal to or greater than 150% ($52,722 in Jackson County, or $46,842 in Josephine County) of the local income or these employees must receive wages equal to the county average and be offered non-mandatory benefits such as health care.
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Oregon State Trade and Export Promotion (STEP) program: The State of Oregon offers a new program, funded in part by the Small Business Administration, to assist Oregon companies who wish to take advantage of international trade shows, trade missions, or reverse trade missions in order to enter new markets or expand existing markets.
STEP reimburses up to 50% of a company’s eligible expenses up to a maximum of $5,000 per trade show.
Eligible company must meet SBA’s definition of a small company. (Less than 500 employees.)
Financing opportunities through the state are largely dependent upon business size, need and whether or not the business is in start-up mode or looking for growth. This is an overview of financing programs available through the State: