Symantec Requests Tax Break Extension
Byline: Sherri Buri McDonald The Register-Guard
SPRINGFIELD - Symantec Corp. is asking the city for two additional years of enterprise zone property tax breaks on a $35 million addition to its customer service center in the Gateway area.
The City Council will consider the request at its meeting on Monday.
The California-based security software maker plans to break ground next month on a 205,000-square-foot addition and to complete it by July 2006. The addition will lie immediately west of Symantec's existing 198,000-square-foot facility. The expansion eventually could bring 1,000 new jobs to the area.
Symantec is eligible for three years of enterprise zone tax breaks, and is asking for two additional years of tax breaks, as allowed by state law. The tax break would save the company roughly $600,000 a year in property taxes.
An extension must be approved by the city of Springfield and the Lane County Board of Commissioners - joint sponsors of the Springfield enterprise zone.
To qualify for a two-year extension, Symantec must pay average compensation of at least $45,474 during the five-year exemption period. …