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Display areas qualified for Gresham's Strategic Investment Zone (SIZ). |
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Display areas qualified for Gresham's Strategic Investment Zone (SIZ). |
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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>The Gresham Stategic Investment Zone covers 500 acres of industrial land. Qualifying traded-sector business investments within this geographic area that meet the SIZ criteria are eligible for partial property tax abatement for 15 years.</SPAN></P><P><SPAN>A Strategic Investment Zone (SIZ), enabled during the 2005 Oregon Legislature (SB 879), is a form of </SPAN><A href="http://www.oregon4biz.com/Oregon-Business/Tax-Incentives/"><SPAN><SPAN>Oregon's Strategic Investment Program (SIP).</SPAN></SPAN></A></P><P STYLE="font-weight:bold;"><SPAN><SPAN>How the SIZ works</SPAN></SPAN></P><UL STYLE="margin:0 0 0 0;padding:0 0 0 0;"><LI><P><SPAN><SPAN>When an eligible company locates within the SIZ, it pays property taxes on the first $100 million of value of the improvements. The value above $100 million is abated. This partial property tax abatement lasts for 15 years. </SPAN></SPAN></P></LI><LI><P><SPAN><SPAN>In addition to paying taxes on the first $100 million, the company pays an amount equal to 25% of the taxes, which would otherwise have been due, up to $2 million per year; this payment is called a community service fee. </SPAN></SPAN></P></LI><LI><P><SPAN><SPAN>When a company’s taxable assessed value exceeds $750 million, additional payments are required. </SPAN></SPAN></P></LI><LI><P><SPAN><SPAN>The company must enter into a first source hiring agreement with a third-party purveyor, to encourage hiring locally in East Multnomah County.</SPAN></SPAN></P></LI></UL><P><SPAN /></P></DIV></DIV></DIV> |
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| title:
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Strategic Investment Zone |
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| tags:
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["Investment","tax abatement","industrial","SIZ"] |
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en-US |
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150000000 |
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