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.
Enterprise zones are designed to encourage business investment through property tax relief, in specific areas of the state. In exchange for locating or expanding into an enterprise zone, eligible (generally non-retail) businesses receive total exemption from the property taxes normally assessed on new plant and equipment, for a specified amount of time, which varies between the different zone programs.
The following are the standard incentives available to eligible (generally non-retail) businesses locating in any enterprise zone, subject to authorization, timely filings and criteria:
Before construction/installation activities begin on-site, the local zone manager must receive an application for authorization , which contains helpful information.
Eligible business includes manufacturers, processors, shippers and a variety of operations that serve other organizations, as well as call centers and headquarter-type facilities. Hotel/resort businesses also are eligible in some of the enterprise zones. Otherwise, retail, construction, financial and certain other defined activities are ineligible.
A new building/structure, structural modifications or additions, or newly installed machinery and equipment qualify for exemption, but not land, previously used property value and miscellaneous personal items.
For the basic, three-year enterprise zone exemption period, the business needs to:
This includes the criteria for the three-year enterprise zone exemption as well as the following:
Portland is the commercial center of the state with an engaging urban environment providing year-round arts and culture attractions.