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It's our recovery is all about jobs listen to this story -- -- state legislature passing the new tax deal during a special session last Friday in an effort to keep footwear giant Nike and other companies in the state.
For many years to come.
Now state legislators are saying it is a big win for -- joining us now one of those legislators -- state senator mark Katz senator thanks for coming get.
You know what that the critics are saying editors a lot of groups within nor again who including the organ center for public policy -- -- was blackmail.
In fact they say essentially that Nike put a gun to the head of the legislator in the governor and said if you don't know what we watt we're gonna be movement and say you should never.
Based tax law on the basis of blackmail by one company how do you respond to that.
First I I just want to acknowledge that this.
This news story pails in comparison to what you're going through back there and are very much senator prayers -- we -- -- similar tragedy a few days before that one so there are many amazing when they're too many.
In the past couple of months for anybody's -- today I appreciate that but what about.
The charge that your make in this -- just one company.
Well -- it's nonsense I mean first of all let me just if I could can put this in perspective.
Nike has counter intuitively grown so fast.
In the last five years so that upwards of 60% of their employee base of the world headquarters are here just outside of Portland.
And -- -- and entertainment said we need to make a major expansion to the tune of upwards of half billion dollars and we want to do -- in Oregon.
Is there any way that we can guarantee that the tax structure that we have now won't change.
And the governor and the legislature six who said yes we can work that out and that's essentially what we did last week there was absolutely.
None of this blackmail they did that you spoke that was what I was saying that senator was the -- -- for public policy.
Ballots it's just ridiculous they never ever sad if you don't do this will leave they said will you help us.
And we dead they're not getting any any special breaks no tax cuts no deals.
None of those economic development -- of road projects -- water systems are freeway interchanges they're not even getting a free stoplight.
All they're getting is certainty that the system that exists now will continue to exist.
-- senator what does Nike aside from the obvious bring to your state I mean it is an iconic name.
It's always been their he would definitely not want to lose -- that.
Give us some texture as to what -- really means organ apart from the obvious which is all the jobs.
Be happy to do that -- has a long colorful history and our state was founded by the legendary track Coach the US Olympic team track Coach Bilbao Orman.
And one of his runners on his squad named Phil Knight.
The first the first outer sole track shoes were discovered on Bauer -- -- waffle iron and that started -- that the seventies and and we all of us and -- in Oregon have kind of watch them grow lot and we kind of grown up to -- and I think.
Part of Nike's personalities are intertwined with organs personality and part of mortgage personality intertwined with them.
I think if if ever there was a state that resonated with the company would be.
Or again given their you know sports and fitness and outdoors and and even -- their even their personality which is very independent has a distinct brand of its own fits very very well with -- -- popular here.
I think the majority of oregonians by and large were.
Very happy with what we did last week it wasn't just for Nike was for anybody who does the same thing as what -- proposing.
And I think this bill will be signed into law by the governor this week I would expect in the next thirty days or so that Nike wolf.
-- announce exactly where and how much how big this expansion will be in and I'm just really proud that we -- able to partner with them.
Senator there there isn't a lot of competition now between the states -- particularly in the midwest over these right to work laws.
Are you feeling pressure with states around you to work in -- -- laws that that might be more business friendly.
Well I I mean that's that's the reality I'm I'm very sensitive to dissident that you know all of these states are competing for a great companies like Nike and Intel.
-- tell -- our largest private employer.
And that's that's a fascinating subject.
And I think what.
What a lot of these companies want in addition to some of the incentives.
I think what they want more than that is the security of knowing that nothing -- is gonna happen to their tax structure could point you guys understand personal services contracts and you you know that there's a lot of value and if if -- boy came to you and said okay we'll we'll just make a certain for ten years or twenty years.
That's that's really got more value than than revenues and in some cases and that's all that Nike was it was asking for with some certainty we could raise their rates tomorrow we wanted to when they're they're OK with that because one of the -- to stay in place.
I don't think -- is okay with their taxes going up but that's just -- senator thank you very much good to see -- thank you very much the Swedish stakes here.
For kids that are marked -- well --
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