State Successfully Attracts East Coast Biotech Firm to Lake Oswego
A Boston-based bioscience company relocates its operation to Lake Oswego in the fall of 2011.
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 is a unique balance of geographic beauty and modern technological development and is well known for an accepting, active culture with a vibrant arts community.