Union Pacific track expansion lawsuit dismissed, companies could be required to disclose tax breaks and property tax deductions face chopping block.
Union Pacific lawsuit tossed out
The railroad company filed suit after local officials blocked a rail expansion near Mosier. U.S. District Judge Ann Aiken dismissed the appeal because the suit failed to include three Indian tribes with treaty rights at stake, the Portland Business Journal reports. This means the Union Pacific dispute is punted back to the Columbia River Gorge Commission. Citing interference with tribal treaty rights, the Gorge commission had already overturned a planning commission approval of the track expansion.
Bill could require companies to disclose tax info
The House Revenue Committee is considering a corporate tax disclosure bill, the Oregonian reports. Supporters say more transparency could lead to better corporate tax policies as it could require companies like Nike and Intel to disclose their tax breaks. The state does publish a list of tax breaks, but the list doesn’t specify which companies receives the breaks or the value of those breaks.
And check out our March feature story on business secrecy and transparency. The package examines how transparency is good for business, dives into cybersecurity and private equity and offers a list of four secretive companies in Oregon, Nike and Intel included.
Budget gap may doom property deductions
Oregon’s wealthiest homeowners could lose tax deductions claimed from property taxes and mortgage interest under proposals being debated by state lawmakers, the Statesman Journal reports. Legislators are seeking ways to close a $1.6 billion budget shortfall over the next two years. The two bills under consideration are staggered to target property owners with annual incomes above $50,000 and $250,000.
Moovel has a new partnership
The Daimler subsidiary just celebrated its new Portland headquarters, and is now joining forces with Austin-based Capital Factory to launch MobilityX Accelerator, the Portland Business Journal reports. The accelerator will work on mobility solutions.
OB Original Blog: Timber, levees and affordable housing top Oregon delegation priorities
Sen. Wyden has been leading the calls for a full investigation on Trump’s Russia ties. But Oregon’s senior senator and the rest of the delegation aren’t neglecting their home state.
OB Original Blog: Cascadia Quake: ‘Apocalypse or decades of terror?’
The Earthquake Engineering Research Institute is holding its 69th annual meeting this week in Portland.
Bend Research expanding engineering facility
Since it was acquired by Capsugel in 2013, Bend Research has continuously expanded its campus. In July 2015, a $25 million manufacturing plant expansion was completed. Now, Bend Research is planning more than 12,000-sqaure-feet of space dedicated to its engineering team, the Bend Bulletin reports. The company employs 350 currently, but there’s no word yet if the expansion also means additional hires.