New Committee to take public testimony in advance of special session
Salem, Oregon – A newly formed committee will take public testimony on proposed economic development legislation Thursday at 9 AM.
Senate President Pro Tempore Ginny Burdick (D-Portland) has been appointed as co-chair of the Special Committee on Economic Development. The committee was formed after Governor John Kitzhaber called the Oregon Legislative Assembly into a Special Session for Friday, December 14, to take action on the Economic Impact Investment Act.
“Now more than ever, it’s critical that elected officials do our part to keep Oregon businesses in Oregon and to spur job growth,” said Burdick. “I am pleased to be a key player in the development of the Economic Impact Investment Act, expected to be a significant economic growth bill for Oregon.”
The Economic Impact Investment Act was announced on Monday by Governor John Kitzhaber. Early drafts of the legislation ensure businesses financial stability by guaranteeing the current method of apportioning corporate tax liability for a negotiated period. In order to qualify, a company expanding or relocating to Oregon would have to create a minimum of 500 new jobs and commit to a capital investment of at least $150 million.
“This Act is good news for Oregonians and for Oregon business,” said Burdick. “It is another tool in our economic development tool box to create jobs and attract business to Oregon.”
Burdick was elected to the Oregon Senate in 1996. She serves as the Chair of the Committee on Finance and Revenue and Co-Chair of the Joint Tax Credit Committee. She also serves as a member on the Business, Transportation and Economic Development Committee and the Committee on Rules.