How is Prosperidad Funded?
Centro de Prosperidad is funded by the Enterprise Zone in the City of Hillsboro. The City leverages Community Service Fees to reinvest into the local community.
The State-chartered Enterprise Zone program provides a temporary property tax exemption, for industrial businesses, to encourage business investment, job creation, and greater economic diversity. The City of Hillsboro administers the Enterprise Zone program in three areas of Hillsboro: the South Industrial Area, the Central Business District, and the North Industrial Area.
Each company that receives an Enterprise Zone exemption may be assessed a Community Service Fee of up to a maximum of 50 percent of the abated tax. The Hillsboro City Council directed the Community Service Fee to be used for business development and to increase employment opportunities for Hillsboro and Enterprise Zone residents through education and job skill enhancement.
Is Prosperidad Funded by Taxpayer Dollars?
In short, no, Centro de Prosperidad is not funded by taxpayer dollars. The Enterprise Zone program generates non-taxpayer dollars with which the City of Hillsboro can invest in local the local community.
Enterprise Zone Districts: