The Oregon Senate passed House Bill 2009 A, a measure that creates a new research and development (R&D) income tax credit and extends enterprise zones and Gains Share programs.
Oregon leads the nation in cutting-edge chip manufacturing and is third in the world only behind South Korea and Taiwan. However, the global share of semiconductors manufactured in the United States has seen major decline in recent decades from 37% to just 12% today.
In March, the Legislature passed Senate Bill 4, a bipartisan bill acting as a first step toward reviving and growing Oregon’s semiconductor and advanced manufacturing industry through the federal CHIPS Act.
“Boosting our semiconductor industry means providing family-wage jobs to Oregonians in my district and across the state. When we passed Senate Bill 4 early in the session, I stressed the importance of continuing to work on research and development tax credits and enterprise zones to not only solidify but expand Oregon’s lead as a top chip producer worldwide. After sitting on the workgroup that formed House Bill 2009, I was proud to cast a vote in favor of it today. It will build upon the foundation of research and innovation excellence that has existed in Oregon for decades,” said Senate Republican Leader Tim Knopp (R-Bend).
Creating a business-friendly environment to attract the semiconductor industry was a priority on our 2023 Equitable Oregon session agenda.
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