Oregon’s governor has called the state legislature into special session today to consider a tax deal for Nike, the $24.7 billion sneaker company, the Wall Street Journal reports. Nike, the state’s second biggest company, with headquarters are in Beaverton, Ore., is thinking of expanding but wants the state to promise that its tax burden won’t increase.
Oregon Gov. John Kitzhaber has asked the legislature to allow him to promise companies their taxes won’t change for 40 years if they promise to invest $150 million in Oregon over five years and create 500 jobs. The Journal notes that Oregon already offers companies a “single sales factor” tax structure in which they pay taxes only on their sales in Oregon, rather than their total sales or property.