Senate expands e-commerce zones

cap-smallMultiplying e -commerce zones will accelerate Oregon’s job growth HB 4005 A allows more parts of the state to designate ‘e-commerce zones’ to spur investment
By Oregon Senate Democrat Office

The Oregon Senate authorized an expansion of Oregon’s successful ‘e-commerce’ zone program, which helps secure investments and jobs across the state. House Bill 4005 A, which passed on a vote of 28 -2, raises the cap on the number of e -commerce zones from ten to fifteen.

“Innovative technology companies provide fuel for Oregon’s growing economy, and we ought to encourage more of them bring their business here,” said Senator Alan Bates (D-Medford). “ Last session, I worked with my colleagues to create an e-commerce zone in my district. With this bill, we’re giving more communities like mine the means to attract family-wage jobs and put people to work.”

Established in 2002, E -commerce zones may be designated within an enterprise zone or a city. To qualify, businesses must engage in commercial or retail transactions over the internet or a computer network. This designation allow s qualifying businesses to receive a credit against state income or corporate excise tax liability of 25% of the investment cost made in capital assets used in e -commerce operations. “With tools like e -commerce zones, we’re making Oregon more and more competitive in today’s economy and bringing jobs to our communities,” said Senator Lee Beyer (D -Eugene). “Last year, Oregon had the third-fastest rate of job growth in the country. Let’s keep that head of steam by allowing more places to take advantage of these successful zones.” House Bill 40 0 5A will now go to Governor John A. Kitzhaber for his approval.

Disclaimer: Articles featured on Oregon Report are the creation, responsibility and opinion of the authoring individual or organization which is featured at the top of every article.