Cities, counties, or several contiguous counties in Oregon can set up Rural Renewable Energy Development (RRED) Zones. The zone can only cover territory outside of the urban growth boundary of any large city or metropolitan area. Businesses must meet certain employment and/or investment requirements to be eligible.
Commercial renewable energy properties in these zones are eligible for a 3 to 5 year local property tax exemption. Eligible investments include wind, geothermal, solar, biomass, or other unconventional forms of electricity generation, or systems that produce, distribute or store biofuels. Each zone sets a local cap for the total value of property that can qualify for the abatement, up to $250 million in initial market value of each project. Interested businesses must apply for authorization before construction or installation begins.
Depending on the zone, businesses may also be eligible for other local property tax incentives. For a current list of designated zones, see the program website listed above.
Designated Zones:
*Excluding any area within urban growth boundary (UGB) of a metropolitan region or city with a population of 30,000 or more.
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Oregon |
| Incentive Type: | Property Tax Incentive |
| Web Site: | https://www.oregon.gov/biz/programs/RuralRenewableEnergyDevelopment%28RRED%29Zone/Pages/default.aspx |
| Administrator: | The Oregon Business Development Commission |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
|
| Incentive Amount: | 3-5 year exemption from local property taxes |
| Maximum Incentive: | The total amount of property among one or more projects that can qualify is subject to a locally-set cap, but is not to exceed $250 million |
| Name: | ORS §285C.350 |
| Name: | OAR 123-680 |
| Effective Date: | 06/14/2010 |
| Name: | Arthur Fish |
| Organization: | Business Oregon |
| Address: |
775 Summer Street, NE, Suite 200 Salem OR 97301 |
| Phone: | (971) 707-8097 |
| Email: | arthur.fish@biz.oregon.gov |
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
Copyright © 2023 EnergyBot • All rights reserved.
1601 Bryan St Suite 900, Dallas, TX 75201
