Washington County residents will see $111 million in property tax revenue and payments flow to local schools and services over the next 15 years after the county and the city of Tualatin jointly approved a Strategic Investment Program agreement with Lam Research on Wednesday, Aug. 12.

The deal clears the way for up to $1.7 billion in reinvestment at Lam Research's Tualatin campus and roughly 450 permanent research and development jobs. It still needs final sign-off from the Oregon Business Development Council at a meeting date not yet announced.

"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," Board Chair Kathryn Harrington said in a statement. Harrington added that the growth of quality jobs would generate new tax resources to help fund schools and other essential public services.

Under the 15-year agreement, Lam Research will make payments in lieu of property taxes to Washington County starting at $400,000 in 2028 or 2029 and increasing by $200,000 each year, reaching $3.2 million annually. Those payments total $27 million over the life of the deal, according to the Beaverton Valley Times.

The company will still pay approximately $84 million in property taxes during the same period, according to Washington County. Combined, the $111 million funds county services and school districts that serve Bethany, Cedar Mill, Oak Hills and West Haven-Sylvan, KOIN reported.

Optimal Solutions Group, a consulting firm hired to analyze the project, projects the expansion will create more than 1,400 construction jobs, roughly 670 equipment-installation and technical-support positions, and nearly 450 permanent R&D operations jobs in laboratory work, engineering and testing.

Lam Research already expanded its Tualatin presence in November 2025, unveiling a $65 million, 120,000-square-foot office building designed for up to 700 workspaces along Leveton Drive. The company also operates manufacturing and warehouse sites in Sherwood and a sales office in Hillsboro.

This is Washington County's seventh Strategic Investment Program agreement. Past SIP partnerships include deals with Intel beginning in 1994 and Genentech in 2006. Since 1993, those agreements have attracted more than $50 billion in investment and helped create or retain over 19,000 local jobs, according to county officials.

Oregon's SIP program allows a county to reduce a company's property tax burden when that business commits to major local investment.

The deal isn't final yet. The Oregon Business Development Council must approve the agreement before it takes effect, and no meeting date has been set. Residents can follow Washington County Board of Commissioners meeting agendas for updates on implementation.