Enterprise Zones save Hillsboro businesses $10M

Enterprise Zones save Hillsboro businesses $10M

Hillsboro's Enterprise Zone agreements saved businesses $10 million in property taxes and more than doubled the area's employment.

In the 2011-12, seven Hillsboro-based businesses receiving the property tax abatements reported a total 3,114 annual average jobs. That figure is a marked increase from the 1,274 annual average jobs those companies reported in applications for Enterprise Zone status.

SolarWorld is by far the biggest local participant in an Enterprise Zone agreement, accounting for almost 93 percent of the city's Enterprise Zone property tax abatements and about 40 percent of its average employment. Between its two Enterprise Zone agreements dating back to 2008, the company has saved about $9.1 million in property taxes.

Read more at OregonLive.com.

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