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Description: Enterprise Zones are a development tool to incent industrial development, creating higher wage jobs and higher capital investments within the zone boundary. State requirementsTo receive Enterprise Zone benefits, an eligible business must meet these requirements: 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). No concurrent job losses more than 30 miles from the zone. Maintain employment levels during exemption period. Enter into first-source agreement with local job training providers. Satisfy any additional local conditions.Gresham's requirementsIn addition to state requirements, the City requires:A minimum $1 million investment to be eligible for the Enterprise Zone program. 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. A procurement plan to increase purchasing with Gresham companies.Update September 2017 addition of tax lot R943341600
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Copyright Text: Gresham GIS Team
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