Economic development leaders in Salem and Hillsboro say incentives granted to Sanyo Solar of Oregon LLC and SolarWorld AG have been worth it.
The incentives have generated about 1,200 well-paying jobs so far.
“It’s absolutely been a success: We’re happy to have Sanyo, and we’re working to recruit other companies to our energy and technology center,” said Annie Gorski, a city of Salem economic development project manager, in referring to the city’s sustainability-oriented enterprise zone.
Enterprise zones are a state-created offering intended to encourage industrial investment. Businesses in enterprise zones that invest in new plants or equipment qualify for tax abatements on the investment, an incentive that can be worth millions, especially to capital-intensive manufacturing plants.
In Salem and Hillsboro, the programs have led to jobs that pay in the $50,000 range annually to hundreds of workers. In exchange, the companies have met tight timelines for starting production and promised to hire workers who live near the enterprise zones.
Read more at Sustainable Business Oregon.