Nike offered special tax break
Legislators in the US state of Oregon have approved a special tax deal for sportswear giant Nike, to prevent the company from relocating to another state.
According to recent reports, Nike approached state politicians with news of its intention to grow its Oregon operation, but only as long as its current tax arrangements remained unchanged.
Nike’s announcement of its intention to create an additional 500 jobs and invest $1.5 million in facilities encouraged the state legislature to agree to the request.
“This is a very positive step forward, not only for our company but for the state of Oregon,” a Nike statement said.
The company was launched in the region in the 1960s, and employs some 8,000 members of staff in its Beaverton-based corporate headquarters – an increase of 60 per cent during the past five years.
Photograph shows Nike headquarters in Beaverton, Oregon.
This article was originally published on page 4 of the February 2013 issue of SATRA Bulletin.