Financing and Incentives

Financing and Incentives for an Expanding Business

Besides traditional banks, Portland has a number of resources that may be able to assist with expanding and growing businesses. The Portland Development Commission offers gap financing and other loan products for expanding businesses, including working capital. The State of Oregon through Business Oregon offers a number of financial products including direct loans, loan guarantees and development bonds.

In addition to loans, there are a number of incentives offered to expanding business in Portland. Most incentives are targeted towards a specific business activity, type or location and are available in different forms from tax credits to grants.

Development incentives include the Portland Enterprise Zone, a tax abatement program for firms planning to invest a substantial amount in property assets in North and Northeast Portland; Development Opportunity Services (DOS) a grant program for pre-development activities in select neighborhoods; and the Storefront Improvement Program offers cash grants and technical assistance to business and property owners in eligible neighborhoods that can be used for a variety of improvements, ranging from repainting to purchase of new windows and awnings.

Other incentives for eligible businesses in Portland include a matching grant for sustainable business assistance with the Zero Waste Alliance through the Green Gain program; the Business Energy Tax Credit offered through the Oregon Department of Energy for eligible investments in energy conservation, recycling, renewable energy resources and less-polluting transportation fuels; and even a Downspout Disconnection Program that provides incentives for small business owners in targeted neighborhoods to disconnect their downspouts from the combined sewer system.

It’s important to understand program objectives and eligibility requirements for all financing and incentive programs before deciding to pursue them.