Oregon's Strategic Investment Program (SIP).<\/SPAN><\/SPAN><\/A><\/P>How the SIZ works<\/SPAN><\/SPAN><\/P>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>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>When a company\u2019s taxable assessed value exceeds $750 million, additional payments are required. <\/SPAN><\/SPAN><\/P><\/LI>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><\/DIV><\/DIV><\/DIV>",
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