The Columbia Cascade Enterprise Zone was established to encourage private investment on industrial and manufacturing lands. A map of the zone, which includes lands in Fairview, Troutdale, and Wood Village, is attached. The incentive for investment is a property tax abatement up to five years that is regulated under Oregon Revised Statutes Chapter 285C. The local criteria requirements are listed below. The benefits of the Columbia Cascade Enterprise Zone will expire in 2018.
Property Tax Abatement:
Up to five years of property tax abatement for a qualified business investment.
Minimum Investment Required:
New Development $1 million for the three (3) year program
$2 million for the five (5) year program
Tenant Improvements/Machinery $250,000 for the three (3) year program
$500,000 for the five (5) year program
Job Loss Distance Requirement:
No concurrent job losses outside of 30 miles beyond the enterprise zone.
First-Source Hiring Agreement:
Must enter into an agreement with local job training providers.
Increase the company’s permanent full-time employment by 10% or hire a minimum of 1 new employee, whichever is greater, and maintain these jobs through the abatement period.
The average of all hourly full-time wages must be at least 150% of the Oregon minimum wage. Benefits to full-time employees that meet the national average of non-mandated benefits for the size of the company shall be provided. Sufficient training and advancement opportunities must be made available to all employees.
Provide a plan for purchasing materials and supplies from businesses located in East Multnomah County. An annual report is required for purchases showing maintenance of or an increase over first year levels or providing an explanation why such procurement could not be achieved.
0.1% of the new investment value.
Community Service Fee:
The five (5) year abatement option requires a community service fee of 25% of the abatement on new taxes to be paid to the City in each of years 4 and 5.