Lam Research's plan to pour up to $1.7 billion into its Tualatin campus over the next 15 years still needs one more approval before it becomes official.
The Washington County Board of Commissioners approved the proposed Strategic Investment Program agreement Aug. 4, and the Tualatin City Council followed Aug. 10.
But state law requires a final vote from the Oregon Business Development Commission before the deal takes effect. That meeting has not yet been scheduled, according to a Washington County press release issued Aug. 11.
The deal, if approved, would be the largest single economic investment Tualatin has seen in years. Under the agreement, Lam would expand its 52-acre campus with what the company calls the TuX project: 210,000 square feet of new offices, labs and industrial space across multiple buildings dedicated to semiconductor equipment research and development.
What it means for local taxpayers
In exchange for a partial property tax abatement beginning in 2028 or 2029, Lam would make escalating community payments starting at $400,000 annually and increasing by $200,000 each year for 15 years, reaching $3.2 million in the final year. Those payments total roughly $27 million. Lam would still owe an estimated $84 million in property taxes over the same period, bringing the combined revenue to local taxing districts to approximately $111 million over 15 years.
Washington County spokesperson Philip Bransford declined to disclose how much Lam would pay in property taxes without the abatement, citing a confidentiality agreement, The Oregonian reported.
The expansion is also backed by $22 million in separate state funding, according to The Oregonian.
Jobs and economic impact
An independent study by Optimal Solutions Group projects the expansion would generate nearly 450 permanent R&D jobs paying an average of $173,000 a year, roughly triple Oregon's average wage. The project would also support more than 1,400 construction jobs and about 670 indirect positions tied to equipment installation and transportation.
The agreement does not legally require Lam to add any positions.
Lam already employs about 3,000 workers at its Tualatin and Sherwood facilities. The company opened a $65 million, 120,000-square-foot office building in Tualatin in November 2025 with space for 700 workers.
Local and state reaction
"Lam is already a major employer in our region, and this investment strengthens Washington County's leadership in Oregon's semiconductor ecosystem by supporting careers that fuel local prosperity," Washington County Board Chair Kathryn Harrington said in the Aug. 11 announcement.
Tualatin Mayor Frank Bubenik and Lam executive vice president and chief operating officer Sesha Varadarajan both praised the deal, with Bubenik calling it "a win for our region" and Varadarajan saying the expansion reinforces Lam's commitment to a community it has called home for more than 20 years.
What happens next
The agreement is the seventh SIP deal in Washington County's history. Previous partnerships include multiple agreements with Intel dating to 1994 and a 2006 deal with Genentech. Collectively, those agreements have attracted more than $50 billion in investment and helped create or retain over 19,000 local jobs.
No date has been set for the state commission vote. Until that approval comes, the abatement cannot take effect and construction timelines remain uncertain.
