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
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
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
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
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