Tax Abatements
The City of Springfield values supporting business growth in our community and works to administer thoughtful programs, resources and partnerships to meet this value. The programs outlined below offer general tools and resources and our staff is here to assist in answering questions and guiding your company through the process of exploring which tools might be the right fit for your needs.
Springfield Community Enterprise Zone Tax Abatement Program
An eligible firm growing in or locating to Springfield, Oregon, may be eligible for a short-term property tax exemption through the Springfield Community Enterprise Zone Program. This program is specific to traded-sector companies.
If you believe your project or business may be eligible, please contact the City of Springfield Enterprise Zone Manager, Courtney Griesel: acamp@springfield-or.gov.
Springfield Electronic-Commerce Tax Abatement Program
An eligible firm growing in or locating to Springfield may be eligible for a short-term tax abatement on necessary equipment used within traded-sector e-commerce industries.
If you believe your project or business may be eligible, please contact the City of Springfield Enterprise Zone Manager, Courtney Griesel: acamp@springfield-or.gov.
Downtown
Downtown and Glenwood Systems Development Charge Payment Program
Projects within certain Downtown or Glenwood areas of Springfield may be eligible for the Systems Development Charge (SDC) Payment Program. This program is a partnership with the City's urban renewal agency to utilize tax increment funds to pay local new systems development charges assessed on a new project within increment areas.
If you have questions about your project’s eligibility, please contact the Springfield Economic Development staff. Courtney Griesel at acamp@springfield-or.gov or 541.726.7132.
To learn the estimated SDCs on your planned project, contact the Springfield Development and Public Works Department at 541.726.3753 or email dpw@springfield-or.gov.
Open Banner Program
An investment in Springfield's Open Banner Program puts your business in the path of downtown foot and street traffic.
The banner program, managed by of the City of Springfield, is open to eligible businesses located within the Downtown and Mohawk Blvd business districts. Prices vary and are subject to change so reach out to us for the most current information.
If you believe your business qualifies and would like to learn more about the program, contact our staff. Vahana Keene at 541.736.3671 or vkeene@springfield-or.gov
Springfield Opportunity Zones
In 2018, the U.S. Treasury created opportunity zone designations to encourage long-term investments through a federal tax incentive. Opportunity Zones can deliver significant tax savings on medium- to long-term investments in economically disadvantaged communities. This new tax incentive pertains to both the capital gains invested initially through a qualified opportunity fund (QOF), as well as future capital gains earned on the original investment in zone-based businesses or projects
Springfield holds two designations in Downtown and Glenwood neighborhoods.Both Zones include areas within our two urban renewal areas and our Enterprise Zone. These intentionally layered programs may provide for layered opportunites to support your business growth goals.
Springfield Leasable Spaces
The City of Springfield owns and manages over 300,000 square feet of leasable industrial and commercial business space over four states.
Current Available Spaces
There are no available spaces at this time.
Financing
Downtown Matching Loan Program
Springfield's downtown revitalization efforts include a partnership with our urban renewal tools administered through the Springfield Economic Development Agency (SEDA) resources. The Springfield Downtown Matching Loan Program supports projects within the Downtown Urban Renewal area and is funded with downtown tax increments funds. The program goal is to leverage your business' project funds with our matched loan funds, to support your project to improve the interior and exterior of downtown structures and store fronts. Loan amounts can range from $50,000 to $200,000 on a 10-year term note.
Projects within Springfield's downtown urban renewal area may be eligible for this program if they include matching funds, planned taxable improvements, ownership of the building or participation from the building owner and the ability to complete a project within an agreed preiod of time. Additional requirements and parameters exist including a business plan, matching funds, design costs, project completion timeline, and a Deed of Trust or proof of building ownership. Loan funds are available annually on a first-come basis and unitl all funds are disbursed. Additional requirements and parameters may exist so reach out to our staff first and let us work with you to determine if this program might be a fit for your plans.
For more information or to complete a pre-application consultation, contact our loan program coordinator, Vahana Keene at 541.726.3671 or vkeene@springfield-or.gov.
Springfield Partner Financing Programs
Regional partners may offer programs or resources which may support your company needs and goals for growth in our region. The City of Springfield values our strong partnerships with local financial institutions and non-profits.
Community Lending Works
Community Lending Works (CLW) is a local Community Development Financial Institution (CDFI) that provides access to capital and asset building services to help your business work toward financial stability and goals. CLW's programs range in size and theme and in addition to traditional loan services, offer microenterprise loans of $100,000 and under, supporting enterpreneurial start-up and expansion opportunities.
For more information, visit Community Lending Works or email info@communitylendingworks.org.
Lane Council of Government Loan Programs
The Lane Countil of Government (LCOG) business loan programs help small businesses utilize various government loan resources including local, state and federal programs and funds from the U.S. Small Business Administration.
These programs can offer a range of fits and benefits and are constantly adding opportunities.