Oregon gives Intel a Nike-like tax deal

Oregon gives Intel a Nike-like tax deal

Oregon gives Intel a Nike-like tax deal

Print
Email
|

by JONATHAN J. COOPER Associated Press

kgw.com

Posted on December 6, 2013 at 1:22 PM

PORTLAND, Ore. (AP) -- Gov. John Kitzhaber is giving Intel Corp. a tax deal similar to the one he granted Nike a year ago.

Kitzhaber announced Friday that he's signed a 30-year agreement promising that any changes to Oregon's corporate tax structure won't affect Intel. In exchange, the computer chipmaker says it will expand a semiconductor plant in Hillsboro and create at least 500 jobs.

The Legislature gave Kitzhaber authority to make tax guarantees to companies planning large investments. It came in response to a demand from Nike, which said it would expand in Oregon if the state promised not to change a favorable tax structure.

The state taxes corporations based only on their Oregon sales. The formula is beneficial to large companies that have many employees but few sales in Oregon.
 

Print
Email
|