City council greenlights tax breaks for businesses willing to rent in Portland’s central city

With foot traffic slow to recover after the pandemic, Portland officials have been working to attract more people — workers and otherwise — into the downtown area.

PORTLAND, Ore. — A new tax incentive meant to draw businesses back to Portland’s central city sailed through city council Thursday in a unanimous vote. The “Downtown Business Incentive” allows businesses to waive up to $250,000 in business license taxes they’d normally owe the city.

“A first-of-its-kind tax credit to actually reward businesses that sign long-term leases here in the central city that was hardest hit by the pandemic,” said Andrew Fitzpatrick, the Mayor Ted Wheeler’s director of economic

→ Continue reading at KGW TV

Related articles

Comments

Share article

Latest articles