Snohomish County Opportunity Zones provide business advantages

A number of Opportunity Zones exist within Snohomish County to meet the needs of a broad range of industries. Opportunity Zones are tax incentives to encourage corporations or individuals with capital gains to invest in low-income and undercapitalized communities.

Three main tax benefits exist:

  • Temporary deferral of taxes on previously earned capital gains. 
  • Basis step-up of previously earned capital gains invested. 
  • Permanent exclusion of taxable income on new gains. 

Snohomish County Opportunity Zones

Opportunity Zones

Arlington Airport & Marysville North

Arlington-Marysville mapCoordinated infrastructure investments on US Census Tracts 53061052803 & 53061053509

Arlington

The City of Arlington has a hometown feel with big town opportunities. The city combines a solution-oriented approach with environmentally friendly practices to drive the community forward. US Census Tract 53061052803 includes:

  • 2,291 acres in Arlington portion of Cascade Industrial Center
  • 144.5 acres in the Opportunity Zone ready for development
  • Seven greenfield parcels with 50-100 acres available
  • Infrastructure investments being made for I-5, arterial streets, and utilities

Marysville

The City of Marysville is the second largest city in Snohomish County with nearly 70,000 residents and one of the fastest growing communities in Washington. The City is making major infrastructure investments to accommodate this growth:

  • Two regional drainage ponds created
  • New freeway interchange funded at I-5 and 156th St NE
  • Designing new arterial road system
  • Kolstrand, Marine Industry, is relocating from Seattle to Marysville

Property Tax Exemption: Manufacturing Uses SIC Division D

  • Create at least 25 full-time jobs
  • Pay at least $18/hour
  • Building improvements 10,000 square feet or larger
  • Minimum improvement value of $800,000
  • Applies to all local (city and County) property taxes

industrial park in Arlington

Town of Darrington

Darrington OZ MapUS Census Tract 53061053700

 

Everett

Everett mapUS Census Tracts 53061040200 & 53061040700

Everett Downtown

  • 15 city-owned acres
  • Easy access to I-5 and Highway 2
  • Multifamily Property Tax Exemption
  • Historic walk-able core
  • Spectacular 360 views
  • Cultural and civic center
  • Funko Headquarters
  • Riverfront with 1,800 homes
  • Commercial availability
  • Metro Everett plan
  • Robust transit

North Everett

  • Everett Community College and Washington State University Everett Campuses
  • 15-acre Everett Housing Authority Property
  • Cascade and river views
  • Legion Golf Course
  • Providence Hospital
  • Riverside Business Park
  • Workforce Transportation
  • Broadway commercial

Lynnwood City Center

Lynnwood OZ MapUS Census Tract 53061051400

Zoning in place for 9.1 million square feet of high-density office, retail, residential, and cultural development. The area is envisioned to become a vibrant commercial center and appealing place to live, work and play.

  • Encompasses City Center development area and Lynnwood Transit Center 
  • Lynnwood Link Light Rail Open for service in 2024
  • Significant investment in infrastructure improvements

Paine Field

Paine Field mapUS Census Tract 53061041901

Paine Field Airport includes approximately 120+ acres of land ready to develop for commercial or light industrial projects. The mission of the airport is to contribute to the economic vitality and quality of life in the Puget Sound Region, through high quality aviation and industrial services, facilities, and interaction with the community. Commercial air service provided by Alaska and United Airlines.  

  • 30-50 year leases available
  • Equal to investment made
  • 120+ acres ready to develop
  • Commercial zoning
  • Light industrial zoning
  • Traffic mitigation credits
  • Wetland credits
  • Fast track aerospace approval process