10/28/2015 - Enterprise Zone is Growing After One Year - " City of Tigard
TIGARD Press Release
13125 SW Hall Boulevard Tigard, Oregon 97223 www.tigard-or.gov
FOR IMMEDIATE DISTRIBUTION October 28, 2015
Contact:
Lloyd Purdy Sarah Selden
Economic Development Manager Sr.Planner
City of Tigard City of Lake Oswego
503-718-2442 503-697-6524
lloydp@tigard-or.gov sselden@ci.oswego.or.us
Tigard Enterprise Zone is Growing After One Year
The Tigard Enterprise Zone is growing,and not just with new firms expanding their workforce. The Tigard
Enterprise Zone is expanding to become the Tigard/Lake Oswego Enterprise Zone,at the request of leadership
from the City of Lake Oswego.
The State of Oregon approved the City of Tigard's application for the creation of an enterprise zone in 2014.
Through this program,eligible firms receive a three-to five-year local property tax abatement on new capital
investments when the firm also grows its workforce by at least 10 percent. The City of Tigard created the zone to
support business investment and hiring in areas of economic hardship in parts of Tigard with higher rates of poverty
and lower levels of household income. The original zone covers 1,598 acres of industrial and commercial land.
The amended zone,called the Tigard/Lake Oswego Enterprise Zone,adds about 100 acres in the City of Lake
Oswego's Southwest Employment Area of industrial and commercially zoned properties.This area,encompassing 85
properties,qualifies for enterprise zone status based upon economic hardship criteria.As many as 15 firms in Lake
Oswego could be eligible to participate in this expanded enterprise zone. Currently three firms in Tigard have been
certified for enterprise zone tax abatements.
Lloyd Purdy,Tigard's economic development manager,will manage the expanded enterprise zone and work with
eligible firms in Lake Oswego to help them complete the certification process. "This is a great example of economic
development at a regional scale," said Purdy. "Residents in both communities find gainful employment in
neighboring cities.This helps grow the regional economy,not just the Tigard or Lake Oswego economy."
Upon passage of a resolution at the Tigard City Council meeting on October 27th the cities will make a joint request
as zone co-sponsors Business Oregon,the State of Oregon's economic development agency to complete the process
of zone expansion.
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