To encourage the creation of new industrial and manufacturing jobs for the community, Salem participates in the Oregon Enterprise Zone program. Salem businesses located within the Enterprise Zone boundary receive eligible tax credits as incentive to grow and expand.
A three to five year property tax exemption is available to qualified firms within the Enterprise Zone boundary. The exemption is available for traded sector employers adding new jobs and private investment within the Enterprise Zone boundary.
Eligibility qualifications include:
Required outcomes include:
Salem's Enterprise Zone is designated an Electronic Commerce Zone, a special status to further encourage electronic commerce (or e-commerce) investments. Businesses engaged in electronic commerce, those engaging predominately in transactions via the internet or an internet-based platform. Businesses located in an e-commerce zone are eligible for a standard three-year property tax abatement. Newly installed machinery and equipment can also qualify.
Salem sponsors the Enterprise Zone and it is managed by SEDCOR (Strategic Economic Development Corporation).