News Release from: City of Beaverton
BEAVERTON COMPANY TO MAKE $2.8 MILLION ENTERPRISE ZONE INVESTMENT
Posted: November 6th, 2012 8:34 AM
- City's new Enterprise Zone enjoys first success -
Three months after the state approved Beaverton's request for an Enterprise Zone, the city has announced its first success. The city has approved Vernier Software & Technology's Beaverton Enterprise Zone (BEZ) application for an estimated $2.8 million investment at its current location on Millikan Way.
The BEZ is a tool within designated areas of the city that encourages eligible businesses to make additional investments to improve employment opportunities, spur economic growth and diversify business activity. Eligible businesses locating or expanding in the BEZ receive an exemption from property taxes for three and up to five years.
"This investment opportunity comes at a perfect time, as our company has been continuously growing over the years and is now surging alongside technological advancements within the software industry," said David Vernier, founder and chief executive officer. "We've worked closely with the city to develop a solid application that will add quality jobs and help boost our local economy."
Vernier Software develops science software and instrumentation for K-12 classrooms as well as public colleges and universities with products sold domestically and internationally. For more than 30 years, the company has pioneered award-winning interfaces, sensors, software and curriculum that transform science education. Through the BEZ investment, Vernier Software plans to expand the existing facility and increase existing employment by 10 percent over the next five years.
"In the 2011-2016 Economic Strategy, we identified the importance of having a diversified portfolio to help grow family-wage jobs and improve our economy," said Mayor Denny Doyle. "We couldn't be more pleased to work with such an upstanding business as Vernier Software & Technology."
The state accepted the city's request for an Enterprise Zone in July 2012.
"Other cities, such as Gresham, Hillsboro and Portland, already had Enterprise Zones in place," explained Alma Flores, economic development manager. "Enterprise Zones have been successful for our neighboring cities and have led to job creation. We believe Vernier will be the first of many Beaverton-based businesses that will take advantage of our new Enterprise Zone."
According to Business Oregon, a study conducted in 2010 concluded that at least 7,000 new jobs were generated in 59 of Oregon's enterprise zones over a six year period.
The city of Beaverton Economic Development Division oversees the BEZ program and works directly with businesses to apply. For more information, please visit www.BeavertonOregon.gov/Ezone.
ABOUT VERNIER SOFTWARE & TECHNOLOGY
Vernier Software & Technology has been a leading innovator of scientific data-collection technology for 31 years. Focused on science, technology, engineering, and mathematics (STEM), Vernier is dedicated to developing creative ways to teach and learn using hands-on science. Vernier creates easy-to-use and affordable science interfaces, sensors, and graphing/analysis software. With world-wide distribution to over 130 countries, Vernier products are used by educators and students from elementary school to college. Vernier's technology-based solutions enhance STEM education, increase learning, and build students' critical thinking skills. Vernier's business culture is grounded in Earth-friendly policies and practices, and the company provides a family-friendly workplace. For more information, visit www.Vernier.com.
ABOUT BEAVERTON
Beaverton enjoys one of the most diverse populations among Oregon cities. Most recently, the city was awarded the 2012 Mayors' Climate Protection Award from the U.S. Conference of Mayors. It was one of just four cities of its size recently recognized as a "Smarter City" energy leader by the Natural Resources Defense Council and one of the 100 Best Places to Live in America by Money magazine. In addition, Beaverton has been named one of the safest cities in the Pacific Northwest for three consecutive years, as one of the best places to raise kids by BusinessWeek magazine, an All-America City finalist, as one of the top 25 Suburbs for Retirement by Forbes.com, one of the 100 Best Walking Cities in America by Prevention magazine, the Recycler of the Year from the Association of Oregon Recyclers, a Tree City USA by the Arbor Day Foundation, a Bronze Award Bicycle Friendly Community designation by the League of American Bicyclists and as one of the Environmental Protection Agency'
s Green Power Communities, the Beaverton Community Vision program was named Public Involvement Project of the Year--Best Planning Project by the International Association of Public Participation (IAP2) Cascade Chapter. For more information, please visit www.BeavertonOregon.gov or follow us on Facebook at www.facebook.com/cityofbeaverton.
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