interesting - 5 year tax break

http://www.theworldlink.com/news/local/article_50376335-937e-5b6e-9f03-cf05ccc2c2c5.html

Oregon Resources Corp. is one step closer to getting a five-year tax break on its Southern Oregon Mineral Sands project.

Oregon International Port of Coos commissioners approved ORC's Enterprise Zone application Friday. The decision was made unanimously during a teleconference, although Port President David Kronsteiner declared a conflict of interest (his company West Coast Contractors has done business with ORC) and Treasurer Brady Scott was not at the special meeting.

Now, the mining operation has only one more hurdle to leap before it can take advantage of the tax incentive.

$43 million plant

Designed to encourage investment and job creation, Enterprise Zones exempt businesses from local property taxes on new plants and equipment. In ORC's case, taxes would be forgiven on its $43 million ore processing plant on Bunker Hill in Coos Bay.

Bay Area Enterprise Zone sponsors -- Coos Bay, North Bend, the port and the county -- all must agree to qualify the project for the Enterprise Zone benefit.

City councilors from North Bend approved the abatement earlier this month, followed by Coos Bay last week.

Next: Coos County

Coos County commissioners will consider ORC's application Tuesday, Oct. 5.

ORC's project will have to meet certain criteria to qualify, including paying its employees 150 percent of the county average annual wage (about $45,440).

ORC would pay an annual community service fee -- totaling $300,000 over five years -- to support a new position in the county sheriff's office.

On Saturday, The World will take a closer look at Enterprise Zones and what the tax abatement would mean for the county.