Gov. Ted Kulongoski
Mayor Sam Adams
Vestas,
would keep its North American headquarters in Portland,
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.