Sometimes it can be hard to keep up with the green business wave sweeping over Oregon. In the wake of last week’s news about foreign solar companies choosing the Portland area for their American headquarters, we wrote a post about the various tax incentives, and other reasons, that green companies are attracted to this area. Apparently the news is spreading: the Wall Street Journal recently published this article on more renewable businesses choosing to locate in the Portland area.
The latest company to add itself to the green business wave is Vestas, which was courted to locate its American headquarters here in 2002, and now has agreed to stick around and grow into its enormous new $250 million headquarters. Again, one of the big draws appears to be the state and city tax incentives — the State has offered Vestas about $15 million while Portland has offered about $12.5 million. These tax incentives have now brought the likes of (a larger) Vestas, Germany’s SolarWorld, Spain’s Iberdrola, Solaicx, Peak Sun, and the list goes on.
The economic benefits of the various tax incentives have also trickled out to the State’s residents. According to this relatively lengthy 2007 study by ECONorthwest, the benefits of the Oregon Business and Residential Energy Tax Credit’s have included increased wages, numbers of jobs and tax revenues for state and local governments. Most entrepreneurs don’t grab headlines like Vestas or SolarWorld — at least not immediately — but there are many smart locals using these same incentives, and others like them, to start their own green businesses. We hope to hear more about them as the green economy grows here, despite the trying economic times.
Tags: green business, portland, renewable
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