The sports apparel giant needs to spend more than $150 million threshold to trigger a state tax deal.
BY JACOB PALMER | DIGITAL NEWS EDITOR
Before it has even applied for a building permit for the biggest building in its expansion plans, Nike has surpassed the $150 million threshold to trigger a state tax deal.
So far, the sports apparel giant has applied for building permits for projects totaling $163 million, according to the Portland Business Journal.
In November, Nike said it planned to add two new buildings and two parking garages to its campus, a project that would add 1.3 million square feet of space to its sprawling suburban campus.
Since January, it’s applied for permits for one of the office buildings and both garages:
- The company was issued a permit for the $78 million Northwoods building, which is expected to be 470,000 square feet according to general contractor Hoffman Construction, this month. That’s slightly larger than the 412,000 square feet described in Nike’s original planning documents.
- Nike also received a construction permit for a $42 million parking garage.
- Nike applied for a construction permit for the second garage, which is valued at $31 million, in April. A permit has not been issued yet.
- The sportswear giant also has applied for or received permits for nearly $13 million in projects at a former warehouse it recently acquired at the center of its campus, including $7.8 million in tenant improvements.
Construction on the massive expansion began Jan. 15.
