Clatsop
County, the Port of Astoria and the cities of Astoria and Warrenton
will consider submitting an application to the State of Oregon for the
designation of an enterprise zone covering multiple areas.
The
enterprise zone program allows property tax exemptions of up to five
years on new capital construction such as new buildings/structures,
modifications,
additions and new equipment, in exchange for job creation and other
public benefits. Participating firms are required to meet program
requirements set by the state as well as the local sponsors. Once the
five-year period ends the qualifying improvements are
fully taxed.
The
proposed “Clatsop Enterprise Zone” would cover certain property in
Astoria, Warrenton, Miles Crossing/Jeffers Garden and Knappa, including
areas
such as the Astoria Regional Airport, North Coast Business Park and
Tongue Point.
Officials
say the zone and the tax benefits it brings will provide another tool
to drive new investment in industrial properties and increase
private-sector
economic activity in the county.
Taxing
districts whose boundaries include property within the proposed zone
have been invited to the Feb. 24 meeting to learn more about the
designation.
The proposal will also be presented to the two city councils and county
and port commissioners on the following dates:
·
Astoria City Council – March 2
·
Port of Astoria Commission – March 3
·
Warrenton City Commission – March 10
·
Clatsop County Board of Commissioners – March 11
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