
Washington County anticipates $20.5 million gap in next year’s budget
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The short answer is "no." Instead, Washington County and the City of Hillsboro have focused on ensuring that our communities remain great places to start or grow a business. Through the Strategic Investment Program, the Oregon Legislature has enabled the city and county to successfully attract and retain capital-intensive industries and high-wage jobs benefiting the entire state but focused here in our community.
Other businesses can and have participated in the Strategic Investment Program since the Legislature created the SIP in 1993. The intent of the program was to increase Oregon's ability to attract and retain capital-intensive industry and high-wage jobs. Projects approved for the SIP must pay full property taxes on the first $100 million of their investment, or $25 million in a rural area. Given these state requirements, a business would need to invest well over $100 million per year, or more than $25 million per year in a rural area, before benefiting from this tax abatement program. Other companies with SIP-eligible investments in Washington County have included: Integrated Device Technology (SIP agreement approved in 1994) and Genentech (2006). Moreover, other businesses have entered into SIP agreements elsewhere in Oregon.
The state of Oregon has been supportive of SIP agreements across Oregon ranging from high tech investments in Washington County to wind-generating facilities in eastern Oregon and a paper mill in Clatsop County. SIP presents an excellent option for the manufacturing industries and companies relying on high-value equipment.