Industrial and Manufacturing Property Tax Exemption
The State of Washington passed SB 5761 to exempt property taxes for the value of new construction of industrial/manufacturing facilities for 10 years. The City of Arlington adopted Ordinance No. 2016-008 to allow this financial incentive to be used in the Cascade Industrial Center.
The law is limited to use by the cities of Marysville, Arlington, and Lake Stevens as a demonstration on how the State of Washington can encourage manufacturing and industrial uses. The City of Arlington and Snohomish County have approved this property tax exemption for use in Arlington.
The law requires the following: Creation of a minimum of 25 new full time jobs, paying at least $18.00 an hour. The building improvements must be 10,000 square feet or larger and a minimum improvement value of $800,000.00. The use must be one which is a SIC Division D Manufacturing as defined by the US Department of Labor.
Initial contact for this property tax exemption is Marc Hayes, Community and Economic Development Director. Email: firstname.lastname@example.org. Phone: 360-403-3457.
Opportunity Zone - An Investment Opportunity
The City of Arlington Census Tracts 528.03 and 535.09 have been selected as areas that are eligible for investment using the Opportunity Zone tax incentive program. Map of the area for opportunity fund investment is below. Additional information regarding the incentive program is below.