Jun 22, 2007

Troutdale/FEDEX Tax Break Estimate: $2-6 Million

If the new FEDEX distribution center provided 750 jobs, $2-6 million of tax abatements would translate to about $2600 to $8,000 per job.

In a follow up to Troutdale's discussion on providing tax breaks to a proposed FEDEX move to the old Reynolds Metals site, The Tax Supervising and Conservation Commission (TSCC) just issued a "City of Troutdale Enterprise Zone Tax Abatement Analysis". The TSCC stated that, "It should be noted that these are very rough estimates based on limited information. The actual property taxes that would be abated could vary by as much as 20 percent from what is presented in this analysis."

Here are the TSCC numbers:

Tax Abatement, Valued as Industrial:

Three Year EZ Exemption Period; $ 4,008,817
Five Year EZ Exemption Period; $ 6,624,773

Tax Abatement, Valued as Commercial:

Three Year EZ Exemption Period; $ 2,132,991

Five Year EZ Exemption Period; $ 3,663,767

1 comment:

May Day said...

Councilor Canfield,

It seems like some kind of spending mania has taken hold of your august group lately: Millions in urban renewal money for Yoshida or some other big developer, $300k for the Sedona Park neighborhood, and this FedEx welfare handout does them one better. Is it just sexier to have big projects that you guys can point at rather than take credit for being prudent with the public trust? But I guess that's politics in a nutshell...