Gov. Kitzhaber Calls Special Legislative Session
December 10, 2012, 2:15 pm
Governor John Kitzhaber has ordered lawmakers back to work early, calling a special session of the Oregon Legislature
He called for the session to change state law on business tax breaks, specifically those what would clear the way for a major expansion of Nike
The sportswear giant has requested guarantees that the state's corporate tax structure won't change in the coming years.
An economic impact study by AECOM
estimates that Nike's expansion would represent $2 billion in investment per year and could create as many as 12,000 jobs by 2020.
Kitzhaber is proposing legislation that would allow him as governor to enter into an agreement with any company to lock in the state's corporate tax structure for a set period if the expansion would bring 500 jobs and $150 million in capital investment over five years.