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The City's public/private partnership program provides three to five year property tax abatement on new investments, in exchange for meeting job creation and other business creation requirements. |
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The City's public/private partnership program provides three to five year property tax abatement on new investments, in exchange for meeting job creation and other business creation requirements. |
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Gresham GIS Team |
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5000 |
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<DIV STYLE="text-align:Left;"><DIV><DIV><P><SPAN><SPAN>Enterprise Zones are a development tool to incent industrial development, creating higher wage jobs and higher capital investments within the zone boundary. </SPAN></SPAN></P><P STYLE="font-weight:bold;"><SPAN><SPAN>State requirements</SPAN></SPAN></P><P><SPAN><SPAN>To receive Enterprise Zone benefits, an eligible business must meet these requirements: </SPAN></SPAN></P><UL STYLE="margin:0 0 0 0;padding:0 0 0 0;"><LI><P><SPAN><SPAN>Job creation: Existing companies located in the Metro area must increase permanent full-time employment by 10%; companies outside the Metro area must create at least one new full time job to qualify (except for special-case local sponsor waivers for investments over $25 million or 10% productivity increase for existing companies located in the Gresham zone). </SPAN></SPAN></P></LI><LI><P><SPAN><SPAN>No concurrent job losses more than 30 miles from the zone. </SPAN></SPAN></P></LI><LI><P><SPAN><SPAN>Maintain employment levels during exemption period. </SPAN></SPAN></P></LI><LI><P><SPAN><SPAN>Enter into first-source agreement with local job training providers. </SPAN></SPAN></P></LI><LI><P><SPAN><SPAN>Satisfy any additional local conditions.</SPAN></SPAN></P></LI></UL><P STYLE="font-weight:bold;"><SPAN><SPAN>Gresham's requirements</SPAN></SPAN></P><P><SPAN><SPAN>In addition to state requirements, the City requires:</SPAN></SPAN></P><UL STYLE="margin:0 0 0 0;padding:0 0 0 0;"><LI><P><SPAN><SPAN>A minimum $1 million investment to be eligible for the Enterprise Zone program. </SPAN></SPAN></P></LI><LI><P><SPAN><SPAN>For companies requesting an extended abatement of five years, an additional 5% community service fee will be assessed if the minimum $1 million investment is not met after three years. </SPAN></SPAN></P></LI><LI><P><SPAN><SPAN>A procurement plan to increase purchasing with Gresham companies.</SPAN></SPAN></P></LI></UL><P><SPAN>Update September 2017 addition of tax lot R943341600</SPAN></P></DIV></DIV></DIV> |
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Enterprise Zone |
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["enterprise","property tax","investment","industrial"] |
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en-US |
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150000000 |
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