Nike will earn a tax break as part of a deal to open a large e-commerce warehouse in Ontario, CA, according to a report in the San Gabriel Valley Tribune.
Nike agreed to locate and stay in Ontario for nearly 12 years, generating sales tax revenues for the city’s general fund. But Ontario only keeps half of that revenue. The rest gets paid back to Nike in quarterly payments, city officials said.
The agreement was ratified by the Ontario City Council on September 15.
The city expects to realize $52,000 per year in property taxes and $60,000 in annual business license taxes.
