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Doing Business in Oregon

Doing Business in Oregon. Jill A. Miles, CEcD National Recruitment Officer Business Oregon. A Prime West Coast Location. “Oregon has been able to give us an employee base that understands the silicon market. It just can’t be matched anywhere else in the world.” - SolarWorld.

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Doing Business in Oregon

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  1. Doing Business in Oregon Jill A. Miles, CEcD National Recruitment Officer Business Oregon

  2. A Prime West Coast Location “Oregon has been able to give us an employee base that understands the silicon market. It just can’t be matched anywhere else in the world.” - SolarWorld

  3. Oregon Population:3.7 million and growing78% in Cities

  4. Why Oregon Makes Sense: Quality and Cost • Highly skilled workforce • Home to Intel’s largest manufacturing facility and many other semiconductor firms, Oregon has more than 50,000 tech workers • Strong creative class • Low business costs • Low business taxes, tax abatement and incentives • Access to Market • Convenient gateway between Pacific Rim and U.S. • Stable, affordable electricity supply • Stable electrical supply infrastructure and low industrial rates • Clean technology leader • Largest manufacturer of solar cells in N. America

  5. Skilled, Ready Workforce • Oregon has an available food manufacturing workforce of around 68,000 • Oregon's attraction and retention of 18-34 year olds is 39% above U.S. average • Industry-focused programs at community colleges, university system and union training centers

  6. Oregon Agriculture • Oregon has 1,200 licensed food processors in operation that created new jobs during the recent recession • Food processing is expected to grow an additional 7% by 2018 • There are more than 234,000 jobs in Oregon tied to it’s agriculture economy • 80% of Oregon’s farm production reaches customers who don’t live in Oregon • Agriculture represents 12% of Oregon’s total economy

  7. University Connectionsfor Innovation Oregon university labs extend the R&D capacity of industry to advance innovation: • Oregon State University’s Food Innovation Center • Food Product Development • Storage and Distribution Studies • Sensory and Consumer Testing • Local, National, International Market Access and Development

  8. Low Costs Oregon’s Business Climate • Low State and Local Business Taxes • Low Power Costs • Low Worker Compensation Rates • Low Cost of Land & Buildings • Low Total Operating Costs

  9. Oregon Has Low State and Local Business Taxes • Oregon has the lowest effective business tax rate in the U.S. (Ernst & Young COST Study, 2010) • Local property taxes, 1–2% of assessed value • Inventories and vehicles excluded • Exemption Programs • No sales tax, no inventory tax • Single Sales Factor tax structure

  10. Oregon Business ClimateLowest Total Effective Business Tax RateOregon is tied for The Lowest in the U.S. at 3.5%…Also Ranked #2 Most Competitive State forNew InvestmentErnst & Young / Center on State Taxation

  11. Low Electrical Power Cost • Average industrial rates are about half that of California’s (U.S. Department of Energy, 2010)

  12. Property Tax Exemption Programs • Strategic Investment Program (SIP) for big facilities, 15-year partial exemption • Enterprise Zone, 100% exempt: • Three years, as-of-right for eligible (non-retail) firms adding full-time jobs in zone • With zone sponsor agreement, 1–2 extra years, subject to average employee compensation • Most rural enterprise zones can also offer 7-15 year exemptions on all new facility property

  13. Enterprise Zone (E-Zone)Property tax abatement program • New, qualified plant & equipment 100% exempt from taxation • Three years automatic with hiring requirements and potential urban zone additional conditions • Extra one or two years (years 4 & 5) based on written agreement with local zone sponsor • Future use for subsequent phases or projects • Exemption periods apply to each year’s newly operational property over 3 years per authorization • Future authorizations with 10% employment increases

  14. Oregon Investment Advantage • State income tax “holiday” • 10-year exemption/deduction of taxable income attributed to facility • Inside eligible county—one of 16: • On any industrially zoned land, or • For any type of business in small city–UGB • Requires: • Operations to be new/unique to that firm in Oregon (distinction for same company or between subsidiaries) • Five or more full-time, year-round hires • Not competing with existing businesses in relation to local resources or sales Business Development Incentives

  15. Oregon ClimateModerate & Productive NW Marine Climate High Mountain Desert Climate Mediterranean Climate

  16. Access to Market • Access to Key Markets • Easy distribution to California, the largest U.S. market, as well as export access to the Pacific Rim • Full inter-modal access • Portland International Airport voted best airport for business travel 4 of last 5 years (Condé Nast, 2006-2008, 2010)

  17. Port of PortlandLeading West Coast Hub • More than 13 million passengers per year •  200,000 tons of air cargo per year •  22 carriers • 13 passenger carriers • 9 all-cargo carriers, including nonstop to Seoul • About 430 passenger flights daily • International nonstop flights to Tokyo; Amsterdam; Toronto, ON; Calgary, AB; Vancouver, BC • General aviation airports in cities of Hillsboro and Troutdale

  18. Delta Non-Stop Service:Tokyo-Portland-Amsterdam

  19. Advanced Intermodal Connectivity

  20. Portland Truck Delivery Schedule Next Day Second Day Third Day

  21. Business Oregon • Business Oregon serves as a one-stop gateway to project development: • coordination of public and private resources and regulations • access to capital • tax incentives • export assistance • consulting services for lean and high-performance manufacturing • minority- and women-owned business certification • brownfields programs • site and infrastructure development

  22. Questions? Jill A. Miles, CEcD National Recruitment Officer 503-551-0997 Jill.a.miles@state.or.us www.oregon4biz.com

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