Regional Incentives

Tax Incentives

Incentives

There are a number of tax and business financing incentives available to businesses locating and expanding in Union County.  Contact UCEDC to learn more the business eligibility and the criteria for qualifying projects for these opportunities.

Tax Incentives

Enterprise Zone

The Standard Enterprise Zone program is designed to encourage business (generally non-retail) investment through property tax relief.  Eligible businesses locating and expanding in an enterprise zone receive total exemption from property taxes assessed on new plant and equipment (but not land) for at least three years and up to five years.  The Long-Term Enterprise program extends the property tax abatement for up to fifteen years.

Oregon Investment Advantage

The Oregon Investment Advantage helps businesses to locate in most Oregon counties with a 10-year waiver on all income/excise taxes related to those operations, potentially avoiding state business tax liability for that period.

Strategic Investment Program 

Strategic Investment Program exempts a portion of large capital investments from property taxes.  The program is available statewide for projects developed by “trade-sector” businesses, most often for manufacturing firms.

Other tax incentives available from the State of Oregon include:

  • Research Tax Credits
  • Construction-in-process tax abatement
  • Employer-provided Dependent Care Tax Credit
  • Work Opportunity Tax Credit
  • Film & Video Incentives

Financing Incentives

Oregon Business Development Fund (OBDF) provides direct loans that leverage private capital and provides incentives for businesses to expand or locate in Oregon.

Oregon Capital Access Program (CAP) provides a form of loan portfolio insurance so banks may make business loans that carry higher than conventional risks while complying with federal and state banking regulations.

Oregon Credit Enhancement Fund (CEF) provides loan guarantees to banks in order to increase capital availability to small businesses.

Oregon Industrial Development Bonds (IDB) are available to manufacturing projects, exempt facilities and non-profit organizations to provide access to capital primarily for value-added manufacturing.

Entrepreneurial Development Loan Fund (EDLF) offers direct loans to help new businesses get started.

Business Retention Program (BRS) is designed to help private sector companies with multi-industry expertise in finance, marketing, operations, turnarounds, restructurings, feasibility studies, etc.

Brownfields Redevelopment Fund.   A brownfield is property where expansion or redevelopment is complicated by actual or perceived environmental contamination.  The Brownfields programs range in activities from site assessment to cleanup for properties where known or suspected environmental contamination is a barrier to redevelopment.

To learn more about the above tax and financing incentives available in Union County, contact UCEDC.

City of  La Grande Urban Renewal Area

The City of La Grande Urban Renewal Agency can offer cash grants for job-producing projects. Grants $25,000 and under can be negotiated and approved by City staff. Larger grants require City Council approval. Grants can be used for site improvements, off-site improvements and in some cases can be applied toward the construction of improvements to real property. Projects sited in the La Grande Business Park are eligible for these grants.

To learn more about the incentives available within the City of La Grande Urban Renewal Area contact:  City of La Grande Community and Economic Development, 541.962.1307.

Contacts

Union County Economic Development Corporation

P.O. Box 1208
La Grande, OR 97850

Phone: 541.963.0926

Category: Regional

More Regional

The EDA fund is designed to provide financing that will create or retain jobs, expand businesses, and assist in the creation of viable businesses within distressed communities.  This fund provides financing for land/building acquisition, new construction, equipment/fixtures/machinery, inventory, supplies, and/or working capital. Loan Range: 33% of projec... Learn More
Oregon's enterprise zones offer a unique resource to Oregon communities, and an excellent opportunity for businesses growing or locating in Oregon. Primarily, enterprise zones exempt businesses from local property taxes on new investments for a specified amount of time, which varies among the different zon... Learn More
The City of La Grande, through its Urban Renewal Agency, has funding available to assist Downtown building rehabilitation and renovation projects within the Urban Renewal district. It is the City’s intent to use Urban Renewal funds to match with private sector funding to incentivize an... Learn More
Opportunity Zones In 2018, the U.S. Treasury made opportunity zone designations across the country to encourage long-term investments through a federal tax incentive. Governor Brown's nomination resulted in 86 qualified opportunity zones in Oregon. What Are Opportunity Zones? Opportunity Zones can deliver significant tax savings on medium- t... Learn More
Congress provides this incentive to private-sector companies for hiring individuals from target groups, for which the state of Oregon has instituted systems to expedite and facilitate documentation. Learn More
Our media incentive programs can rebate 20% of your Oregon-based goods and services, and an additional cash payment of up to 16.2% of payroll wages paid to production personnel working in the state. More often than not, the turnaround of cash rebate payments is quic... Learn More
Food processors exemption The Oregon Legislature reinstated the property tax exemption in 2013 for certain types of property acquired and installed by Oregon food processors (ORS 307.453) by the passage of House Bill 2735. The program allows food processors to request a property tax exemption for qualified property machiner... Learn More
If you file a consolidated Oregon return and have more than one affiliate doing business in Oregon or with Oregon-source income, you must complete Schedule OR-AF and submit it with your return. Learn More
Is there free money to get my new business started? No, there is no free money. There are however many loan programs, incentives and resources available that Grant County Economic Development can help you navigate and get set up. For more information, call us at 541-575-1555. Learn More
Check the link for more information. Learn More
The MICRO loan fund provides financing for land/building acquisition, new construction, equipment/fixtures/machinery, inventory, supplies, and/or working capital. Loan Range: $1,000-$100,000 Terms: 1-20 Years Rate: 7.50% Minimum Service Area: Gilliam, Grant, Harney, Malheur, Morrow, Umatilla, Wheeler   Learn More
The MCEF was established in 2003 to provide funding assistance for businesses within the county. Funds are typically used for permanent financing for real estate or equipment purchases.   Loan Range: Variable, dependent of funds available and collateral value Terms: 1-20 Years Rate: Set by the MCEF Loan Committee Service Area: Morrow   Learn More
The NA loan fund is eligible only to business owners that are members of a federally recognized tribe.  This fund provides financing for land/building acquisition, new construction, equipment/fixtures/machinery, inventory, supplies, and/or working capital. Loan Range: $1,000-$20,000 Terms: 1-20 Years Rate: 7.50% Minimum Service Area: Gilliam, Grant, Harney, Malheur, Morrow, Umatilla, Wheeler   Learn More
NEOEDD/NOBD has helped dozens of businesses in Baker, Union, and Wallowa counties launch or expand their businesses with its loan programs. The loans are “gap” loans, meant to fill gaps left by traditional lenders. Anyone looking for loan funds should consider the 5 “Cs” of Lending... Learn More
This incentive program is available to existing companies expanding operations in Oregon or new companies coming into the state. The Oregon Business Expansion Program (BEP) is a cash-based incentive (forgivable loan) equivalent to the estimated increase in income tax revenue from the new hiring. Eligibility Company plans to hir... Learn More
With an up-to-10-year income tax holiday, this program helps businesses start or locate new operations in many Oregon counties. Companies setting up operations in an eligible county can be certified as many as 10 consecutive times to annually deduct or subtract taxable income related to those operations, potentiall... Learn More
The Oregon Low Income Community Jobs Initiative (Oregon New Markets Tax Credit, or NMTC) program: Helps finance investments and create jobs in low-income communities Delivers below-market-rate investment options to Oregon businesses Attracts additional Federal New Markets Tax Credit investments in Oregon Sparks revitalization in Oregon's low-income communities Eligible Applicants Community Developmen... Learn More
The RS loan program is made up of several small loan funds that were originally created to increase business start-up and expansion capital.  These funds have evolved to provide financing for land/building acquisition, new construction, equipment/fixtures/machinery, inventory, and supplies. Loan Range: $1,000-$100,000 Terms: 1-20 Years Rate: 7.50% Minimum Service Area: Baker, Gilliam, Grant... Learn More
The SBA 504 loan program is a U.S. Small Business Administration funded program that provides financing for major fixed assets such as commercial real estate or equipment. The proceeds from this program may be used for the purchase of land/including existing buildings, the purchase o... Learn More
As part of the state of Oregon's effort to support the growth of existing Oregon businesses, this program provides funding assistance, in the form of forgivable loans, for small manufacturing businesses' expansion projects. This program is no longer accepting applications, as all funding has been awarded. I... Learn More
The 2016 Legislature created the Solar Development Incentive (SDI) to encourage the development of solar energy projects in Oregon by providing a cash incentive per kilowatt-hour (kWh) of electricity generated to owners of photovoltaic (PV) energy systems with a nameplate capacity of between 2 an... Learn More
The Strategic Investment Program (SIP) offers a 15-year property tax exemption on a portion of large capital investments. The program was created in the 1990s to induce large, capital-intensive facilities to locate and grow anywhere in Oregon. What Projects Qualify SIP projects must serve a "traded sector"... Learn More
The program exempts a portion of very large capital investments from property taxes for 15 years. The program is available statewide. Learn More
The Strategic Reserve Fund (SRF) is a discretionary tool funded by lottery dollars used for a variety of projects impacting economic development, and can be sorted into two different categories. Given the diverse projects supported, each investment will have different requirements. Projects considered for th... Learn More
NEWS: Urban Renewal Program Accepting Project Funding Applications!  Each fiscal year, the La Grande Urban Renewal Agency (URA) has a limited amount of funding to allocate toward public/ private development projects within the Urban Renewal District. For the 2019-20 fiscal year beginning July 1, 2019, th... Learn More
The IRP fund is designed to provide financing that will create or retain jobs, expand businesses, and assist in the creation of viable businesses within distressed communities.  This fund provides financing for land/building acquisition, new construction, equipment/fixtures/machinery, inventory, supplies, and/or working capital. Loan Range: 75% of projec... Learn More