Daily News Where you Live
Wind: 3 mph
3 May 2015
4 May 2015
City may provide tax break for Canadian potash exporter
The Portland City Council will consider expanding the Portland Enterprise Zone on Wednesday to provide new tax breaks for a Canadian potash exporter. The expansion also would include part of Colwood Golf Course that recently was rezoned to allow for industrial uses.
Canpotex, a potash exporter already active at the Port of Portland, wants to invest $25 million to buy a new loader at the ports Terminal 5, to move product onto ocean liners. That could spur additional development of up to $125 million in and around 15550 N. Lombard St., according to the Portland Development Commission.
The city also might add 48.4 acres currently used by the Colwood Golf Course, at 7313 N.E. Columbia Blvd., into the enterprise zone, to help lure new industry there.
Combined, the additions would add 172.5 acres to the Portland Enterprise Zone. The zone was designed to spur job creation by allowing tax breaks and other incentives.