Lam Research could get a 15-year property tax break on a $1.7 billion semiconductor campus expansion in Tualatin after the Washington County Board of Commissioners holds a public hearing and vote at 10 a.m. Tuesday, Aug. 4.

The deal, negotiated under Oregon's Strategic Investment Program, would partially abate property taxes on Lam's "TuX" project: 210,000 square feet of new office, laboratory and industrial space for semiconductor-equipment manufacturing and R&D on the company's existing 76-acre campus along Southwest Leveton Drive.

Because Washington County tax revenue funds services across the county, including in Beaverton, the abatement's terms affect how much local governments collect from one of the region's largest employers.

In exchange, Lam would pay an estimated $84 million in property taxes and fees over 15 years, plus $27 million in additional locally negotiated fees, for a combined total of roughly $111 million, according to Washington County's July 31 announcement.

"For more than 20 years, Lam Research has partnered with Washington County to shape the semiconductor ecosystem in the Silicon Forest, create high-quality jobs, and invest in our communities," Sesha Varadarajan, Lam Research's executive vice president and chief operating officer, said in the July 31 announcement. "This proposed agreement represents the next chapter of that partnership."

An economic analysis by Optimal Solutions Group, commissioned by the county, projects the expansion would support about 1,420 construction jobs, 669 capital-equipment installation jobs, and 445 direct Lam Research positions with average annual earnings of roughly $173,000.

Ongoing operations would generate an estimated $51.5 million in annual economic output within Washington County, with R&D and lab work accounting for about 85% of that activity.

Assistant County Administrator Marni Kuyl said in the county's July 31 statement that the agreement's phased approach "is expected to expand the work and workforce in Tualatin" while "ensuring stable revenues that support local services."

If approved, the Lam deal would be Washington County's seventh SIP agreement. Previous deals include four with Intel between 1994 and 2014 and one with Genentech in 2006. The 2014 Intel agreement with Hillsboro led to up to $100 billion in investments starting in 2017.

The vote is not final.

The Tualatin City Council will consider the agreement at 7 p.m. Monday, Aug. 10, and state law requires approval from the Oregon Business Development Commission before the deal takes effect.

Residents can attend the public hearing Tuesday at 10 a.m. at the Washington County Board of Commissioners meeting.