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2023 Economic Opportunities Analysis Update
The City is updating its Economic Opportunities Analysis (EOA). The EOA identifies existing and emerging economic opportunities within the Sherwood Urban Growth Boundary to establish a clear economic development direction for our community consistent with local, regional, and state market trends and planning policies. An EOA is required by Oregon State Land Use Goal 9, Economic Development.
The City Council has designated economic development as one of its highest priorities – with a particular focus on driving opportunities to grow target industries in Sherwood, such as semiconductors, computers and electronics, aerospace and defense, energy storage/cleantech, biosciences, metals and machinery, software, research and development, and other technology/advanced manufacturing companies.
The City is currently working with major developers such as the Trammell Crow Company and Schnitzer Properties to develop large new industrial parks in the Tonquin Employment Area (TEA), generally bounded by SW Tualatin-Sherwood Road on the north, SW 124th Avenue on the east, SW Oregon Street on the west and the current Urban Growth Boundary (UGB) on the south. There are approximately 200 acres of usable land in the TEA – with the remainder significantly impacted by steep slopes and other constraints. As the City continues to successfully market itself as a regional location for advanced manufacturing and other industrial development, it is anticipated that the most viable properties in the Sherwood UGB will be developed over the next five years.
An updated EOA will reflect Council goals for job creation, employment land needs, and support targeted industries that will diversify the City’s tax base to help pay for our high-quality services and public amenities.
The City has put together a Technical Advisory Committee to review and advise on information and findings presented throughout the update process. It is anticipated that they will meet three to four times for the duration of this project.
The EOA update is expected to be complete by early 2023 to begin the public hearing process for adoption.
All TAC meetings will be listed on the City meeting page, and all meeting materials will be posted below.