BEAVERTON, Ore. – The city of Beaverton is nearing the final steps of an application for an Enterprise Zone (E-Zone).The city is applying as the sponsoring locality and has received consent by the Port of Portland and Beaverton City Council for such an application. The proposed Beaverton E-Zone consists of approximately 1.48 square miles.

“An Enterprise Zone Program is another proven tool for Beaverton to encourage business investment and job creation,” said Mayor Denny Doyle.

An E-Zone allows for eligible industrial-related businesses to make additional investments to improve employment opportunities, spur economic growth and diversify business activity.

Businesses locating or expanding into an E-Zone receive total exemption from property taxes for three years (in some cases, five years).

Other cities, such as Gresham, Hillsboro and Portland, have E-Zones. The E-Zone creates an advantage for these cities. One of the most important results of this tool in these cities is job creation, which contributes to a healthier local economy.

Several state leaders have been strong supporters of Beaverton’s Enterprise Zone.

“Incentives like an Enterprise Zone can make a real difference as Beaverton works to recruit and retain businesses,” said State Senator Elizabeth Steiner Hayward. “An Enterprise Zone could have significant impact on a company’s decision to locate a new or expanded investment in the city.”

“In addition to attracting new businesses to Beaverton, an Enterprise Zone would benefit existing businesses,” added State Senator Mark Hass. “Several of our current businesses and neighboring businesses have expressed needs for expansion where the use of an enterprise zone would be warranted to assist them.”

“Beaverton is well poised, with an Enterprise Zone, to stimulate business investment, property redevelopment, and job creation,” said State Representative Tobias Read. “Beaverton has a combination of advantages and opportunities that is second to none. With a little help, we can make a big difference to the future of our city, our region and our state.”

The recent Consent Resolution with the City Council (May 8) and Port of Portland (May 9) were unanimously passed. The application deadline is June 15, 2012. Beaverton will receive a response after that time, which will determine if the city is a designated Enterprise Zone community.

For more information, contact Alma Flores, Economic Development Manager, at 503-526-2456 or visit www.BeavertonOregon.gov.

ABOUT BEAVERTON
Beaverton enjoys one of the most diverse populations among Oregon cities. It was one of just four cities of its size recently recognized as a "Smarter City" energy leader by the Natural Resources Defense Council and one of the 100 Best Places to Live in America by Money magazine. In addition, Beaverton has been named one of the safest cities in the Pacific Northwest for three consecutive years, as one of the best places to raise kids by BusinessWeek magazine, an All-America City finalist, as one of the top 25 Suburbs for Retirement by Forbes.com, one of the 100 Best Walking Cities in America by Prevention magazine, the Recycler of the Year from the Association of Oregon Recyclers, a Tree City USA by the Arbor Day Foundation, a Bronze Award Bicycle Friendly Community designation by the League of American Bicyclists and as one of the Environmental Protection Agency's Green Power Communities. Most recently, the Beaverton Community Vision program was named Public Involvement Project of the Year—Best Planning Project by the International Association of Public Participation (IAP2) Cascade Chapter. For more information, visit www.BeavertonOregon.gov or follow us on Facebook at www.facebook.com/cityofbeaverton.