Reasons Why Businesses are Moving to Portland

The northwest United States, which includes Portland and Seattle, have seen a lot of people move into the area in recent years. Many people have chosen the Pacific Northwest as home due to the temperate weather, liberal government and lifestyle, and a variety of other local amenities. While cities are attractive for residents looking to move into a new place, the area is also popular with businesses looking to move. Portland, in particular, has seen many small and large businesses move into the area in recent years. There are several reasons why this has occurred (https://www.inc.com/monique-claiborne/2-reasons-businesses-are-making-the-move-to-portland-that-no-ones-been-talking-a.html).

 

One reason why businesses have moved into Portland is that the State of Oregon has had a very favorable approach when it comes to taxes. Overall, Oregon was ranked as the tenth friendliest state in the country when it comes to promoting business. One of the main benefits is that Oregon does not have a sales tax. This is very beneficial for any retailer as it effectively makes their products cheaper than some surrounding states. Furthermore, if a business does have an operating loss one year, they are able to carry that loss forward on taxes for the next fifteen years.

 

Another reason why many businesses choose to move to Oregon is that there are a lot of government incentives to encourage hiring. The Oregon Investment Advantage provides a small business with a range of different tax and other advantages if the business is able to hire a certain amount of employees. In many situations, a business can avoid state income tax completely if they are able to hire five or more employees.

 

Businesses are also moving to Portland to attract more employees. The city is becoming a very popular option for people that are young and just starting their careers. Opening an office in Portland is making it much easier for a business to attract and retain young talent.