Nike and Exponential Corporate Welfare
On Tuesday, Washington County Commissioners will vote on a proposal to expand Beaverton's enterprise zone.They should vote NO on any expansions in unincorporatedWashington County. That specifically includes Nike's World Headquarters "near Beaverton."
The Citizens for Tax Justice ranks Nike in the top 10 of Fortune 500 companies sheltering income in overseastax shelters! Besides Oregon, 3 mores states subsidize Nike. While NIke shareholders may not be happy with falling profits from increased labor costs overseas, that doesn't mean local leaders should manufacture a tax shelter within another tax shelter.
In 2005, Salem lawmakers granted Nike headquarters freedom from "forced annexation" for 35 years. If the “near-Beaverton” headquarters is included in Beaverton’s enterprise zone, the promised $150 million expansion (new buildings and machinery) will not be taxed for up to 5 years. It means the local community will not collect ~$2