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.