With the national economy in the dumps, and Oregon as a whole not doing much better, one of the lone hot areas for entrepreneurs, especially in the Portland area, appears to be in starting up so-called green businesses. There is no exact definition for a green business, but there are certain characteristics that seem to indicate some companies are more conscious about the environment, saving energy and reducing waste than others. However you define this group of companies, a green wave of growth is happening in Oregon. Outside businesses are choosing to locate here and new businesses are opening their doors.
An article in yesterday’s Oregon Business Magazine noted the already prominent - and growing - presence of solar companies from abroad choosing to locate their facilities in Oregon. Germany’s Solar World has already opened its $440 million Hillsboro factory and another large European company appears ready to pick Gresham as a site for multiple new factories. State tax incentives are one of the biggest draws for these large companies, and state and local politicians are pulling out all the stops to encourage more growth. In the case of these large outside companies, future employees will obviously benefit, but so will entrepreneurs and small businesses seeking to capitalize on the niche opportunities that the large companies will create. Wind turbine technicians, for example, are now in demand in areas of eastern Oregon due to the rapid development of wind turbine farms developed by Vestas and other large businesses.
The wealth of incentives being thrown at these outside companies may not exist to the same degree for small businesses, but incentives still do exist and these small businesses should be aware of them. Tax credits are one the biggest incentives. The Oregon Department of Energy offers a credit to trade, business or rental property owners who pay taxes for a business site in Oregon. The credit is explained here. The Department also has a loan energy program designed to promote energy conservation and renewable energy resource development. The Energy Trust of Oregon, which was created by the Oregon legislature in part to encourage an energy market transformation in the State, also offers a wealth of incentives to Oregon businesses. For a full list of state business incentives, see this page by the Oregon Economic & Community Development Department. In these trying economic times, at least incentives such as these continue to encourage growth of new — and green — businesses here in Oregon.
Tags: Corporate, green business
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Tom Humes
At first it seemed like a joke, but investors of SolarWorld weren’t laughing: Shares of the German solar energy company tanked on Wednesday, after it announced plans to buy four plants from General Motors’ German subsidiary Opel and
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