Incentives

For industrial businesses, there are Opportunity Zone Incentives that support investment and livable wage job creation in the Cascade Industrial Center.   

Community focused efforts and partnerships that attract visitors, overnight stays and local spending are supported through Tourism Promotion Grants. Both Snohomish County https://www.snocotpa.com/  and the City of Marysville provide support for these efforts through competitive grant processes.

To support business districts throughout the city, there are two self-funding mechanisms available to local businesses and property owners. The first is Local Improvement District (LID) under which a defined geographical district can be formed by a group of property owners working together to bring needed capital improvements (financing both design and construction) such as sidewalks, streetlights, street pavement, or water and sewer lines. The City undertakes all aspects of design, financing and construction of improvements and sells bonds to provide cash for the project. Property owners within the district repay the money through special assessments, usually over 10 to 20 years. More information is available at: 

Business Improvement Area (BIA) is a funding mechanism for business district revitalization and management. BIAs are conceived, designed, and managed by local business stakeholders who oversee and pay the assessments that fund the maintenance, improvement, and promotion of their commercial district.  Similarly, Parking and Business Improvement Area (PBIA) is designefile:///C%3A/Users/tboydell/Downloads/LID%20Brochure.PDFd to aid general economic development and to facilitate merchant and business cooperation with an additional focus on parking facilities. In Washington these are authorized by statute Chapter 35.87A RCW: PARKING AND BUSINESS IMPROVEMENT AREAS (wa.gov).   

Specifically to support growth in the downtown core and provision of more housing units, the City of Marysville offers the Multi-Family Tax Exemption Program, which provides property tax exemption for a limited time period (8 years for market rate housing and 12 years for qualified affordable housing) on the value of improvements but not land. This program is authorized by statute Chapter 84.14 RCW.