City Hall Becomes a Parade of Platitudes as Mayor/Guv Announce Vestas' Move

By BETH SLOVIC
Gov. Ted Kulongoski
Mayor Sam Adams
Vestas,
would keep its North American headquarters in Portland,
rumors of its moving to Denver
Portland Business Journal.
  1. Vestas says the company will spend $66 million on rehabilitating the Meier & Frank Depot at 1417 NW Everett St., generating 400 to 500 short-term construction jobs.
  2. The City of Portland will give Vestas a 15-year, zero-interest loan of $8.1 million. However, this hasn't yet been approved by the Portland Development Commission's board.
  3. Oregon will give Vestas $2.25 million in incentives, including $1 million from the governor's strategic reserve fund and $1.25 million in dependent care tax credits. If Vestas fails to add 100 jobs in the next five years at its Portland hub, they'll have to return the $1 million.
cut 114 jobs in North America

WWeek 2015

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