US: Nike commits to $150m expansion if bill passed
Sportswear giant Nike has revealed it will commit to an expansion of its operations in Oregon, which could lead to the creation of 500 jobs and $150m in capital investment over five years, if lawmakers approve new legislation.
Its plans depend on passage of the Economic Impact Investment Act, which would provide reassurance that tax rules will not change after a company makes a new investment.
The Act would give the Governor the authority to enter into agreements with any company planning expansions to create a minimum of 500 jobs with $150m in capital investment over five years.
In a statement issued to just-style today (11 December), Nike said: "As a growth company, we hope to continue to bring high-quality jobs and economic benefits to Oregon for years to come."
Nike CFO Don Blair added: "Nike is a global company with a long history in Oregon. We support this proposed legislation as a way to help us continue to grow in Oregon."
However, a spokesperson for Nike said no decision has been made on where the expansion would occur, adding that the company has no specifics to share on timing or the types of jobs that would be created.
Meanwhile, Oregon Business Association president Ryan Deckert said: "The Economic Impact Investment Act will be a powerful tool to drive per capita income up in Oregon."
Oregon is home to Nike’s world headquarters, with more than 8,000 jobs in Washington County. Since 2007, the sporting goods company has seen its employment in Oregon grow by nearly 60%, despite declining statewide employment.
The Oregon Legislature will meet on 14 December to consider authorising Oregon Governor John Kitzhaber to enter into agreements with companies committing to significant job growth and investment in the state.
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