Lam Research Starts $1.5B Expansion Following Tax Abatement
Article excerpt
Lam Research marked the next chapter of its Tualatin operations on Aug. 26, gathering state and local leaders to commemorate a $1.5 billion expansion of its existing Leveton Drive campus. The project by the global chip-making equipment supplier represents one of the largest private industrial investments in Tualatin’s history. “Today we’re breaking ground on the largest investment we’ve ever made in Oregon,” said CEO of Lam Research Tim Archer at the event. The major investment resulted from a governmental agreement among Lam Research, Washington County and the City of Tualatin, which allowed Lam Research to receive a partial tax abatement to incentivize construction of the new campus. In an Aug. 26 Lam Research press release, the new campus was described as a “state-of-the-art Oregon lab, part of a more than $3 billion planned investment in its global lab network over the next five years to accelerate breakthroughs for the creation of advanced AI chips.” The Tualatin City Council approved the project in a 5-0 vote at their meeting on Aug. 10. At the meeting, Tualatin City Director of Urban Renewal Sidaro Sin and Assistant Washington County Administrator Marnie Kyle briefed councilors on the new deal and urged them to approve the strategic investment program (SIP). “As you know, SIP is an effective economic development tool that the county has used since 1994,” Kyle said...
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At the Aug. 10 presentation and the groundbreaking event on Aug. 26,, it was said that the investment was expected to create 445 jobs, with average pay estimated at $173,000, and Nobles reported that “annual employee compensation is expected to exceed $530 million.”
