State Successfully Attracts East Coast Biotech Firm to Lake Oswego
A Boston-based bioscience company relocates its operation to Lake Oswego in the fall of 2011.
Oregon's enterprise zones offer a unique resource to Oregon communities, and an excellent opportunity for businesses growing or relocating in Oregon. Primarily, enterprise zones exempt businesses from local property taxes on new investments.
Sponsored by municipal or tribal governments, an enterprise zone typically serves as a focal point for local development efforts. There are currently 63 enterprise zones creating better opportunities for business investment across Oregon: 50 rural and 13 urban.
If growing employment in an enterprise zone, eligible (generally non-retail) businesses can receive total exemption from the property taxes normally assessed on new plant and equipment for at least three years (but in many cases, up to five years).
In addition, some enterprise zones can offer special business tax incentives.
An Enterprise Zone is sponsored by a local government (city, county, tribe or port). An enterprise zone involves duties and opportunities for the sponsor, especially the ability to change the zone's boundary. For local governments interested in obtaining or retaining a zone, an application period for designations occurs as needed. Rounds of designation will be announced on the following web page along with needed forms and sample materials. Learn more >>