Oregon's reputation could be hurting commercial development
July 28th, 2010Daily Journal of Commerce (Portland, OR), May 21, 2010 by Nick Bjork
Could Oregon’s label of being unfriendly to big business be hurting the local commercial real estate market?
The Oregonian’s Brent Hunsberger reported today that Oregon ranks 38 on the Chief Executive magazine’s annual survey of best and worst states to do business in. Oregon fell 14 spots from last year, most notably because of Measure 66 and 67, which imposes new taxes on businesses and the upper-income brackets.
Look at the recent decision by the Eugene-based Farwest Steel to purchase 22 acres at the Port of Vancouver. Even though the Port cited consolidation and access to the rail line as Farwest’s main reasons for building a new 3,000-square-foot facility on the property, it’s hard not to think that increased corporate taxes in Oregon didn’t have something to do with it.
Why build a new facility if you are consolidating? And why choose the Port of Vancouver for rail car access when the Port of Portland just signed a lease with a new operator for Terminal 6 that stressed rail access as one of its main reasons for coming to Portland?
Farwest has to do what’s best for its company. But I’m sure there are plenty of landlords in the Rivergate Corporate Park that would have welcomed Farwest with open arms.
Fortunately, what Oregon lacks in business friendliness, it makes up for with livability
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