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Description: 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.A Strategic Investment Zone (SIZ), enabled during the 2005 Oregon Legislature (SB 879), is a form of Oregon's Strategic Investment Program (SIP).How the SIZ worksWhen 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. 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. When a company’s taxable assessed value exceeds $750 million, additional payments are required. The company must enter into a first source hiring agreement with a third-party purveyor, to encourage hiring locally in East Multnomah County.
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Copyright Text: Gresham GIS Team
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