Governor and company can now negotiation expansion agreement
Oregon Gov. John Kitzhaber signed the bill sought by Nike at least week's special session of the Oregon Legislature on Tuesday.
The new law allows Kitzhaber to negotiate and sign an agreement with Nike to guarantee the state's current system of taxing multistate companies will remain in effct for up to the next 30 years.
In exchange, Nike has promised to invest at leasty $150 million in Oregon and create 500 or more jobs.
Other multistate companies can also negotiate such agreements.
"I thank the Oregon Legislature for a job well done. Faced with extraordinary opportunity to boost Oregon's economy, we have acted quickly to secure significant investment and high wage jobs. Even under severe time pressure, the Legislature allowed for an effective public process while deliberating with civility and respect. It's a big day for Oregon and our commitment to get Oregonians back to work," Kitzhaber said when he signed HB 4200.
After the Legislature approved the bill on Friday, Nike issued a statement which said, "We appreciate the legislative leadership, Committee leaders, and the entire Oregon Legislature's willingness to act quickly and decisively. This is a very positive step forward, not only for our company but for the State of Oregon. We are looking forward to reaching an agreement with the Governor as soon as possible."
Nike has not said where in Oregon it plans to expand. Possible locations reported improve South Waterfront in Portland and near its World Headquarters in Washington County just outside of Beaverton.