West PDX Today

The first seven years of the North Hillsboro Industrial Renewal Area (IRA) have been a huge success in bringing unserviced and undeveloped vacant land into productive industrial uses, generating private investment, jobs, and new tax revenue.  

To date, the Plan has delivered on its potential to promote the recruitment, development and retention of target industrial industries through the delivery of public infrastructure such as industrial utility capacity and transportation access.

The economic impacts of the area have resulted in:  

• Over 230% increase in assessed value since adoption.
• Between 2021 and 2022 tax years:
  • Assessed value nearly doubled from $467 million to nearly $900 million.
  • Property tax levies grew over 90% — from $5.4 million to $10.3 million.
• Appx. $1.6 billion in new private industrial investment in the IRA.
• The creation of 450 new permanent jobs. 

Major industrial investments include:  

• Hitachi High-Tech America’s New Global Nanotechnology Innovation Center
• JSR Micro’s $115 Million, 79,000 sq ft Manufacturing Facility

Tax increment revenues are being reinvested within the Area to stimulate additional private investment and new jobs. The industrial investment in this area improves Hillsboro’s and Washington County’s long-term financial health as the property tax base will, over time, help fund future public services for all Hillsboro residents. 

Proposed North Hillsboro Industrial Renewal Plan Amendment 2023 

North Hillsboro remains one of the few industrial development opportunities in the region with the potential to meet the region’s needs - and community’s vision - for job creation and economic growth.  

To fulfill this vision, the area requires necessary public infrastructure to attract and drive private investment in new facilities, equipment, and jobs.  

Public investments utilizing and leveraging Tax Increment Financing (TIF) provide a stable funding source that the City can use to build infrastructure that it may otherwise never be able to afford or would hinder private sector investment.

Plan Amendment  

Since the adoption of the original North Hillsboro Industrial Renewal Area, the City has continued to plan for new industrial development in the Jackson East area, allowing for economic development.  

The proposed expansion area faces the same challenges to industrial development as the land in the original boundary.  

These needs include: 

• Connected transportation system with multimodal capacity 
• Utilities including water, sewer, storm water, and other public services 
• Trails and open space improvements  
• Natural resources enhancements and environmental sustainability

The City is proposing to expand the current boundary in order to address the industrial site readiness challenges and build upon the existing plans and investment in the area. 

Existing Plan

• Size: 1,090 acres
• Maximum Debt Capacity: $224 million (with inflation factor)

Proposed Expansion

• Size: 213 additional acres
• Additional Debt Capacity: $44.8 million (forecast)

Total Plan (Existing & Proposed)

• Size: 1,303 total acres
• Maximum Debt Capacity: $268.8 million total (forecast)

The expansion will give the City the ability to increase acreage, include additional projects, and increase the total amount of funds available for improvements. This will allow the City to steer investments toward an area zoned for industrial and technology users to fulfill the vision for North Hillsboro. 

Original source can be found here