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History of the Enterprise Zone Program in Eugene <br /> <br />The expired West Eugene Enterprise Zone was established in 1987, with the joint <br />sponsorship of both the City of Eugene and Lane County. The zone boundary included <br />approximately 6.5 square miles in West Eugene. The West Eugene zone expired in 1997. <br />During its ten-year life, 57 companies participated in the program, making it one of the <br />most active zones throughout the State of Oregon program. Today, 47 (82%) of the <br />businesses that received tax exemptions in the expired West Eugene Enterprise Zone <br />have maintained operations in Eugene. It is estimated that the employment of these firms <br />has grown by over 3,000jobs since they were initially precertified in the program. <br /> <br />Qualified investments made within the expired West Eugene Enterprise zone totaled over <br />$1.8 billion. Hynix Semiconductor Manufacturing, one of the state's largest enterprise <br />zone investors, has made investments in excess of $1.6 billion. In addition to the large <br />Hynix investments (and the large investment made by HMT Technology), all other <br />investments made within the zone totaled $62.5 million. <br /> <br />Although the West Eugene Enterprise Zone expired on June 30, 1997, companies that <br />were participating in the program at the time of the Zone's expiration ("grandfathered" <br />companies) were allowed to continue to use the program's tax exemption benefits on <br />investments made after the expiration of the Zone. There are only two remaining <br />grandfathered companies, Hynix and Lanz Cabinets. Their grandfathered status will <br />sunset in 2007. <br /> <br />Expired West Eugene Enterprise Zone Highlights <br /> <br /> Hynix Semiconductor Manufacturing <br /> <br /> Manufactures dynamic random access memory (DRAM) <br /> and synchronous dynamic random access memory <br /> (SDRAM). The second largest semiconductor manufacturer <br /> in the world, one of the largest private employers in Oregon, <br /> and presently Eugene's largest taxpayer. <br /> <br /> Enterprise Zone Investment(s): $1.66 Billion <br /> Precertified Employment: 0 <br /> Current Employment: 880 <br /> <br /> <br />