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Nike is preparing for a massive expansion project, and Gov. John Kitzhaber wants to make sure it happens in Oregon.

At a press conference in Salem on Monday, Kitzhaber announced that he will convene a special legislative session on Friday to discuss a new piece of legislation designed, essentially, to entice the Beaverton-based sportswear company to expand within the state.

The Economic Impact Investment Act would let the governor prevent future corporate tax laws from affecting companies that commit to creating 500 jobs and investing at least $150 million in capital investment over five years. The impetus for the act is that Nike is pursuing an expansion that could generate more than $2 billion a year and 12,000 jobs by 2020.

During discussions with Nike, Kitzhaber learned that it is considering other states for the expansion. The act would assure Nike that Oregon’s tax laws would hold steady for a set period of time.

鈥淣ike is a global company with a long history in Oregon,鈥� Chief Financial Officer Don Blair said. 鈥淲e support this proposed legislation as a way to help us continue to grow in Oregon.鈥�

Nike said if the legislation were to pass, it would commit to the 500-job and $150 million investment minimums. Kitzhaber did not have any details on the expansion, but said construction would create 2,900 jobs and pump approximately $440 million into the local economy.

鈥淎 bird in the hand is worth two in the bush,鈥� he said. 鈥淭his is a very important company to Oregon. It is expanding rapidly and they have to make this move as soon as possible for a number of business reasons 鈥� they just want to make sure that the tax policy that is making it favorable for them to operate here does not change on them somewhere midstream.鈥�

Kitzhaber said Nike did not divulge which other states it was considering, but added that officials informed him that if the state could provide it with certainty, it would stay.

鈥淔or me, that’s enough,鈥� Kitzhaber said.

Nike employs more than 8,000 people in Washington County 鈥� a number that has grown nearly 60 percent since 2007. The average Nike income, at $100,000, is roughly twice as much as regional and state averages.