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• Population (2008): 3,790,060
• Largest Cities (2008): Portland, 557,706; Salem, 153,435; Eugene, 150,104; Gresham, 101,221;
Hillsboro, 93,638
• Targeted Industries: Sustainable Industries, Hi-Tech & Biosciences, Advanced Manufacturing,
Design & Creative Services
• Key Incentives:
Investment Advantage, Strategic Investment Program, Construction-In-Progress
• GDP (All Industry 2008):
$161.5 billion*
*Bureau of Economic Analysis, U.S. Department of Commerce
The Brownfields Redevelopment Fund is a direct loan and grant program to conduct environmental actions on brownfields. The program's primary purpose is to assist private persons and local governments to evaluate, clean up, and redevelop brownfields. This program is capitalized by proceeds from the sale of state revenue bonds.
The Strategic Investment Program exempts a major portion of large capital investments (more than $100 million) from property taxes, and it is available statewide for projects by any "traded-sector" business, including manufacturing (and recently, electrical generation). Exemptions on the property lasts for 15 years. The project's first-year assessed value greater than $25 million is exempt (i.e., the value in excess of this threshold is not subject to property taxes). The exemption threshold then rises 3% each year during the exemption period. The threshold starts at $100 million for locations inside the urban growth boundary of a metropolitan area or city with a population of 30,000. A community service fee is paid each year to local public service providers. This fee equals 25% of each year's tax savings, but it is capped at an annual maximum of $500,000 ($2 million in the case of an urban location).
The Construction in Progress Program exempts most any project to erect or enlarge a building or structure from property taxes for up to two years anywhere in Oregon. The exemption applies during construction while the building is not in use or is otherwise not ready for any commercially intended purpose. This exemption also applies to on-site machinery or equipment being installed as real property in the unoccupied facility.
Explore detailed community demographic information at ZoomProspector.com
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