SALEM, Ore. (KATU) — Gov. Tina Kotek signed into law a bill Thursday aimed at luring a Major League Baseball team to Portland’s South Waterfront.
Lawmakers gave final approval to Senate Bill 110 earlier this month to finance an $800 million bond for construction of a stadium in Zidell Yards, should the MLB expand to the Rose City.
The repayment of the bonds would be through a “Jock Tax,” which would apply to athletes and staff of the team, as well as visiting teams.
Portland city leaders and supporters of the idea say an MLB team in Portland “could be exactly what” the city needs to boost economic development by billions of dollars.
The governor’s office has stated previously that Kotek supported the bill because an MLB team helps build community and economic prosperity. Such economic success in Portland will also mean success for Oregon.