Incentives

 

LOCAL INCENTIVES

 

WILSONVILLE INVESTMENT NOW

On October 19, 2020 the Wilsonville City Council adopted administrative rules for the Wilsonville Investment Now (WIN) Program, a new local economic development program that seeks to incentivize businesses to operate in Wilsonville by providing urban renewal tax rebates for qualifying development projects outside of the City’s existing urban renewal areas.

 

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VERTICAL HOUSING DEVELOPMENT ZONE

A Vertical Housing Development Zone (VHDZ) offers a partial property tax exemption on building improvement value for developments that include housing with non-residential use on the ground floor, with the amount of tax exemption increasing based on the size and composition of the project. (In most cases this means 20%* abatement, per floor of residential use above the ground floor.) The abatement period for an eligible project is 10 years. 

 

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OREGON INCENTIVES

 

BUSINESS OREGON

 

The State of Oregon offers more than 80 grant, loan, tax incentive, and other programs to further the development of businesses, communities, and economies in the State through the Oregon Business Development Department (dba Business Oregon).

 

Here's an exhaustive list of all incentive programs available through Business Oregon.

 

FEDERAL INCENTIVES

 

Opportunity Zone

 

In 2018, the U.S. Treasury made opportunity zone designations across the country to encourage long-term investments through a federal tax incentive. Opportunity Zones can deliver significant tax savings on medium- to long-term investments in economically disadvantaged communities. This new tax incentive pertains to both the capital gains invested initially through a qualified opportunity fund (QOF), as well as future capital gains earned on the original investment in zone-based businesses or projects. The designations are in effect until December 31, 2028, and offer a predictable basis for private investment decisions over several years. Current federal law provides no means to change or add zones.

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