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Find similar grantsOregon Business Expansion Program (BEP) is sponsored by Business Oregon (Oregon State Economic Development Agency). A state-level economic development program providing cash-based financial incentives linked to estimated increases in payroll and revenue resulting from new business hires.
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Business Oregon : Business Expansion Program (BEP) : Business Expansion Program (BEP) : State of Oregon tag, as divs are not allowed in 's --> Business Expansion Program (BEP) Business Expansion Program (BEP) The Oregon Business Expansion Program (BEP) is a cash-based incentive program based on the estimated increase in income tax revenue as a result of new hires from the expansion or relocation of a project.
Funding is available to existing companies expanding operations in Oregon or new companies coming into the state. Business Oregon awards funds according to a binding agreement with a company. A company must declare that the availability of program funds is an integral factor in its decision to meet the eligibility requirements as noted below.
An agreement contains detailed performance measures, including that: A company repays funds proportional with its failure to meet and maintain employment and compensation targets over at least two years; Hiring results in additional payroll in Oregon that is not, for example, offset by layoffs elsewhere; A company commits to consult with Oregon vendors before contracting to purchase goods or services; and An award is based on two years (at full operation) of estimated incremental personal income taxes that the state would collect from new employees at the above pay scale.
To be eligible for the program: A company must plan to hire 50 or more full-time (equivalent) employees in Oregon and already has at least 150 employees; and The annual pay for each of the 50 new employees must equal or exceed: 150 percent of the state or county average wage, whichever is less; or 130 percent of the state or county average wage, whichever is less, if hired to work in a county outside any federally-designated metropolitan statistical area.
Retailers are not eligible. The company must otherwise sell goods or services into markets involving national or international competition, known as "traded sector" (as defined in ORS 285A. 010 ), and can include corporate headquarters and manufacturing.
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According to the current listing, eligibility includes: Existing companies expanding operations within Oregon or new commercial entities relocating operations into the state. Confirm the full requirements in the official notice before applying.
Oregon Business Expansion Program (BEP) is funded by Business Oregon (Oregon State Economic Development Agency). Verify program details on the funder's official page before applying.
This opportunity targets applicants in Oregon. If your organization operates elsewhere, check the official notice for location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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