By TIM MURRAY Fox News| March 12, 2018 09:45:24After months of deliberation, the Oregon Legislature approved $400,000 in new funds Thursday to help build commercial construction in Oregon.
Kate Brown, who’s seen her popularity slump in recent weeks due to budget problems, signed the bill, which will go to the governor for final approval.
The bill allows the state to purchase land for $1 million to $2 million per property, with a maximum of $3 million per site.
It also allows for the state’s new $1 billion Multnomah County Development Authority to use the land for commercial construction.
It will pay a $500,000 cap to the county for every $1,000 of construction cost.
Incentives for developers include a tax credit for up to 50 percent of the cost of construction on any single site.
The state can also offer tax breaks to encourage people to build more, said Julie Bohnert, spokeswoman for the Oregon Department of Finance and Administration.
The legislation also expands the statewide pilot program that’s been used in the Portland area for more than a decade.
It now covers six counties in the state.
That pilot program, known as the Multnomachic Development Authority, has paid out $6 million to companies and developers.
Oregon has been among the states that has had the most dramatic drop in construction activity in recent years, with the number of jobs lost and the cost for companies to pay their workers up to $10,000 a year.