Lane County Gives UPS Five-Year Tax Break

[cheryl]

Lane County Gives UPS Five-Year Tax Break - Eugene Weekly

Lane County Board of County Commissioners unanimously approved a two-year enterprise zone property tax extension for UPS’s new $10 million packaging facility in west Eugene at the Dec. 8 meeting. The company had already received a three-year exemption. UPS said during the meeting that the tax break was crucial, but past research by Eugene Weekly, and even the San Francisco Federal Reserve, question the effectiveness of enterprise zones in job growth.

During the meeting, Commissioner Pete Sorenson said the board should consider the costs of approving such property tax exemptions in the future because of the financial impact on education revenue.

UPS’s enterprise zone will be a total of five years, but the multinational corporation pledged to donate $10,000 for five years to Lane Community College’s Diesel Technology program and a minimum of two vehicles for educational purposes.

 

[zubenelgenubi]

Lane County Gives UPS Five-Year Tax Break - Eugene Weekly

Lane County Board of County Commissioners unanimously approved a two-year enterprise zone property tax extension for UPS’s new $10 million packaging facility in west Eugene at the Dec. 8 meeting. The company had already received a three-year exemption. UPS said during the meeting that the tax break was crucial, but past research by Eugene Weekly, and even the San Francisco Federal Reserve, question the effectiveness of enterprise zones in job growth.

During the meeting, Commissioner Pete Sorenson said the board should consider the costs of approving such property tax exemptions in the future because of the financial impact on education revenue.

UPS’s enterprise zone will be a total of five years, but the multinational corporation pledged to donate $10,000 for five years to Lane Community College’s Diesel Technology program and a minimum of two vehicles for educational purposes.

Enterprise zones are the only thing that make moving to the area attractive. Once those tax breaks run out, the crushing tax burden generally causes even large corporations to cut their losses and run. That's why it doesn't help with job growth.

 

[Wally]

Enterprise zone usually means lock your doors!