State Resources

There are a number of financing and incentive programs offered through the State of Oregon. For more information on any of the programs below, contact Alma Flores, Community and Economic Development Director, at (503) 786-7652 or floresa@milwaukieoregon.gov (link sends e-mail).

STATE PROGRAMS | Property Tax Abatement

Enterprise Zones (link is external)

In exchange for investing and hiring in an enterprise zone, businesses receive exemption from local property taxes on new plant and equipment for at least three years (but up to five years) in the standards program. In addition, many zones can offer special incentives for investments in qualifying rural facilities or in electronic commerce operations. 

Strategic Investment Program (SIP) (link is external)

The program exempts a portion of very large capital investments from property taxes for 15 years. The program is available statewide

Construction-in-Process (link is external)

Unfinished facility improvements may be exempt from local property taxes for up to two years while under construction with April 1 filing each year. In an enterprise zone, most authorize businesses enjoy a broader tax abatement. 

Food Processing Machinery and Equipment (M&E) (link is external)

For five years starting in or before 2020, newly operation M&E is exempt if certified by the Oregon Department of Agriculture. This exemption encompasses real or personal property used in the primary processing of many types of goods for human consumption with certain limitations. 

STATE PROGRAMS | State Income Tax

Oregon Investment Advantage (link is external)

This program helps businesses start or locate new types of operations in a number of Oregon counties by providing an income tax subtraction, potentially eliminating state income tax liability on new operations over several years after they begin.

Income tax credits and other information (link is external) at Oregon Department of Revenue

STATE PROGRAMS | Other Programs

Oregon Business Development Fund (OBDF) (link is external)

The OBDF is a statewide revolving loan fund that provides long-term fixed-rate financing for land, buildings, equipment, machinery, and permanent working capital. It can provide up to $1,000,000 in financing for the useful life of the project or collateral at a fixed rate of 1% APR above the U.S. treasury Bills rate. The business typically must be a manufacturing, production, processing, or distribution company and show ability to create or retain jobs as a result of the loan.

Oregon Credit Enhancement Fund (CEF) (link is external)

This fund provides guarantees for working capital or fixed asset bank loans. It provides up to 90% loan guarantee to a commercial lender. Funds can be used for real property, buildings, machinery and equipment, working capital and export financing. Eligible companies must work in manufacturing, production, and processing, and must have fewer than 200 employees.

Oregon Film (link is external)

The Oregon Governor’s Office of Film & Television (Oregon Film (link is external)) offers additional incentives such as its Production Investment Fund, Labor Rebate, and Fee Free filming locations in certain State Parks and other locations. More details... (link is external)

Grow Oregon (link is external)

Grow Oregon seeks to help growing companies expand their markets and operational expertise to help them maintain strong growth. Their services include personal one-on-one business planning, financial analysis, debt and equity financing assistance, export assistance, and government contracting assistance.

Oregon State Energy Loan Program (SELP) (link is external)

SELP loans support the growth of energy conservation methods and the use of renewable resources. Their loans are targeted to help businesses save energy, integrate energy production from renewable resources, use recycled materials for product creation, and use alternative fuels.

Industrial Development Bonds (link is external)

Industrial Development Bonds are state-issued tax-exempt bonds used to raise funds to help Oregon’s manufacturers grow. Intended for investments above $5 million, this program loans the proceeds from bonds issued as long-term financing for land, buildings, and equipment. Using their express process, funds can be swiftly delivered to the borrowing firm’s bank.

EB-5 Investment Program

The EB-5 program offers a convenient way for foreign investors to contribute to the U.S. economy and fast track their immigration. Most of Milwaukie is eligible for the $500,000 minimum required investment. More details... (link is external)

New Market Tax Credits (link is external)

Since 2010, much of Milwaukie has been eligible for New Market Tax Credits, including all of Downtown and the North Milwaukie Industrial Area. These tax credits provide additional equity for projects made through qualified community development Entities. They have been successful in bridging financing gaps for many projects across the country. More details... (link is external)

Federal Opportunity Zone Program (link is external)

This new federal program is designed to incentivize investments in low-income communities in exchange for tax benefits.

Oregon Business Expansion Program (link is external)

This is a cash-based forgivable loan equivalent to the estimated increase in personal income tax revenue from new hiring.

Small Manufacturing Business Expansion Program (link is external)

This is a cash-based forgivable loan for small manufacturing businesses' expansion projects.

Federal Work Opportunity Tax Credit (link is external)

Congress provides this incentive to private-sector companies for hiring individuals from target groups, for which the state of Oregon has instituted systems to expedite and facilitate documentation.