Global Logistics Firm Grows By Leaps and Bounds in its Portland Home
UTi Worldwide grew from 14 employees to more than 230 in just 18 months thanks in part to a $250,000 loan from Business Oregon.
This income tax exemption program helps businesses start or locate in most Oregon counties with a multi-year income tax holiday.
Companies setting up operations in an eligible county can be certified at least eight times to annually deduct or subtract taxable income related to those operations, potentially eliminating any state business income tax liability for that period, which begins at least 24 months after the commencement of new operations.
General company eligibility requirements include:
Having five or more facility employees is a requirement with each application for annual certification. The uniqueness of operations to the company and other requirements generally pertain only to the time of application for preliminary certification.
Oregon strives to create a complementary relationship between a clean environment and a robust economy, taking innovative and long-term views when investing in economic development.