Community On Display

    Incentives for Relocation to Corvallis-Benton County

Regional Investment Board
The Regional Investment Board grant is to help businesses create new jobs. The match required for this grant is 1 to 5 (for every five dollars you invest, your receive one dollar). The limit is For: Job creation – for equipment or infrastructure, etc. The grant is for the $100,000. For more information go to www.b13rib.org

Strategic Investment Program
The Strategic Investment Program (SIP) offers tremendous property tax relief for large capital projects. Properties developed under this program are exempt from local property taxes for 15 years on assessed value in excess of $25 million ($100 million in a large, urban area). Everything else is untaxed! www.econ.state.or.us/sip.htm

Oregon Enterprise Zones
Oregon's Enterprise Zone system is designed to encourage business investment in areas sponsored by local governments. Up to 50 such areas exists statewide, embracing more than a hundred rural and urban communities and their commercial/industrial sites. The primary benefit is the exemption of new plant and equipment from ad valorem taxes during construction and then for three to five years. Longer-term and other incentives are available, too. www.econ.state.or.us/enterthezones/

Construction-in-process (cancellation of assessment on commercial buildings)
Most any project to erect or enlarge a building or structure may be exempt from property taxes for up to two years anywhere in Oregon, while under construction and not in use and occupancy—or otherwise not ready for any commercially intended purpose—on January 1 of the tax assessment year.

This exemption applies also to on-site machinery or equipment being installed as real property in the unoccupied facility as of January 1. The following are not covered: land, centrally assessed (utility) property, "non-manufacturing" facilities taking less than 12 months to complete, and building modifications or machinery/equipment in the absence of new re-/construction to the structure.

For more information, contact the county assessor or Oregon Department of Revenue. Application Form (PDF format), due on or before April 1, following January 1 while construction is ongoing. www.econ.state.or.us/bIexemp.htm

The following are some costs that businesses in Oregon do not face:

Taxable income exemption for business development
For 10 years, a deduction can be claimed for the State business income/corporate excise tax, equal to the total income derived from a new facility at an eligible location, avoiding any additional tax liability from that investment. www.econ.state.or.us/smcity.htm

Credits against income and corporate excise tax liability
Many businesses are eligible for a variety of helpful tax credits under Oregon law. The more generally applicable business-related tax credits include the following for expenses and activities in Oregon:

• Advanced telecommunications facilities
• Business energy
• Dependent care
• Employee and dependent scholarships
• Long-term care insurance
• New truck engines
• Pollution control
• Research activities

www.econ.state.or.us/BIabate.htm

    Reasons to do Business In Oregon

Smart Workers and workforce resources Oregon has skilled workers with above-average educational attainment, and an array of training opportunities available through WorkSource Oregon.

Innovative industries Oregon is among the top states in patents per capita, and a national leader in industry research and development in semiconductors.

Transportation advantages Gateway access to U.S. and global markets via a modern multimodal transportation system.

Low business taxes Oregon has the fourth lowest effective business state and local tax rate in the country.

Encouraging business success Oregon offers effective incentives to facilitate investment and create new jobs.

Abundant and low-cost energy Oregon has reliable providers with tailored energy management programs, cash incentives and renewable power options.

Available industrial lands and professional project assistance Oregon has a certified industrial lands program with an inventory of project-ready industrial sites and offers professional development assistance from start to finish.

Low workers' compensation rates cumulative cuts in workers' compensation insurance premiums since 1990 total 57.5 percent resulting in savings to employers of more than $10 billion

for more info, go to  http://www.oregon4biz.com/

   Corvallis in list of Top Knowledge Worker Metros

Corvallis Traffic Count

When you are trying to find a location that works for your business, you may want to know how the traffic flows. There are ongoing traffic studies done by different agencies. Now that Corvallis has surpassed 50,000 in population, it has become an Metropolitan Area for federal purposes. This has lead to the creation of the Corvallis Metropolitan Planning Organization

There are traffic count studies at the Corvallis Metropolitan Planning Organization ( CAMPO )

and at Oregon Department of Transportation (ODOT )- statewide. Look for Oregon Hwy34 and Oregon Hwy 99