Global Logistics Firm Grows By Leaps and Bounds in its Portland Home
UTi Worldwide grew from 14 employees to more than 230 in just 18 months thanks in part to a $250,000 loan from Business Oregon.
Currently, Oregon enterprise zones are sponsored by:
In addition, four cities, ten ports and a few counties consent to zones within their territory that are sponsored by overlapping jurisdictions.
Cities, ports and counties across Oregon can seek an enterprise zone whenever there is a round of designation.
The statutes specify the following two criteria for local economic hardship in order for a proposed zone to be designated: (1) Household median income is 80% or less of state median income, or (2) Unemployment rate is 2 percentage points or more above comparable state unemployment rate, based on the most recent annual figures. Business Oregon can consider alternative but equally severe threshold criteria, and defines several by rule.
Each zone terminates at the latest on July 1 after more than 10 years, at which time local governments may reapply to Business Oregon. The director of Business Oregon is responsible for ordering the designation and termination of enterprise zones and for approving changes to zone boundaries. The boundary of a zone may be noncontiguous, but it must conform to maximums for total area and distances within the zone.
Although enterprise zones are largely self-functioning units—and the property tax exemption that they offer is typically automatic—sponsorship of an enterprise zone still entails both responsibilities and opportunities for the zone sponsor. The sponsor may do the following (if there is more than one sponsoring government, they must act jointly in all cases):
In an urban enterprise zone, the sponsor also may establish local policy and standards for additional, worker-related conditions that are consistently imposed with the standard three-year exemption.
Young, talented professionals are moving to Oregon at an increasing rate. Apparel designers, architects, advertising creatives and others look to Oregon for jobs and quality of life.