Home Archives March 2008 State, businesses push for green energy tax credits

State, businesses push for green energy tax credits

| Print |  Email
Saturday, March 01, 2008
{safe_alt_text}

SALEM Oregon increasingly is described, accurately or not, as the Saudi Arabia of wind energy or wave energy or alternative energy in general. The state also could become the  Cayman Islands of green energy-related tax credits. Last year the amount of Business Energy Tax Credits, or BETCs, skyrocketed and a new proposal by businesses and the state will further increase the amount of credits. And that makes critics wince.

Last year, the Legislature raised the maximum tax credit for companies that make green energy investments from $3.5 million to $10 million. The maximum value of projects that qualified for the credit doubled to $20 million.

The latest proposal is a bill widely expected to pass during the special Legislative session. It will double, to $20 million, the tax credits available to renewable-energy manufacturing companies that build facilities here. In all, the state will hand out at least $300 million in energy tax credits over the next five years.

That kind of lost tax revenue has killed other green tax credit proposals, like the one by the Oregon Business Association seeking credits for companies that exceeded environmental standards. It died after the gloomy state revenue forecast in mid Februrary. Proponents, such as the governor and the OBA, argue that credits are a big draw to large companies. An oft-cited example is Hillsboro-transplant SolarWorld Group, a German business that makes solar cells and plans to expand its workforce to 1,000 in the next four years.

Chuck Sheketoff of the Oregon Center for Public Policy wonders if that tax money would be better spent on education or transportation. It’s those things, he says, that  attract long-term companies. “We didn’t get Adidas because we had shoe tax credits,” he says.                                                              

ABRAHAM HYATT

 

More Articles

Green eyeshades in the ivory tower

News
Friday, April 04, 2014
EducationCosts BlogBY ERIC FRUITS

The rapidly rising cost of higher education has left even the smartest researchers and the wonkiest of wonks wondering what’s happening and where’s all that money going. More and more, prospective students—and their families—are asking: Is college worth the cost?


Read more...

Buy the book

News
Tuesday, March 25, 2014
2 03.25.14 thumb bookshopBY VIVIAN MCINERNY | OB BLOGGER

Oregon is home not only to many fine writers but also several accomplished small publishers.


Read more...

How to boost web traffic

News
Thursday, April 10, 2014
BY JESSICA RIDGWAY  | OB WEB EDITOR

04.10.14 thumb seo-trafficSEMpdx hosted a workshop this week for entrepreneurs, website developers and others interested in search engine optimization (SEO).  Here are a few tips and tricks aimed at bumping up your search engine rankings.


Read more...

Small business sales go big

March 2014
Tuesday, February 25, 2014

BY BRANDON SAWYER

Sales of small businesses surged in 2013 according to the biggest Internet marketplace of such transactions, BizBuySell, increasing to 7,056 reported sales, a 24% increase over 2012, when they dropped 7%. Portland Metro sales tracked by the site grew 9% to 73, capping three years of solid growth. On top of that, Portland’s median sale price jumped 67% to $250K, versus just 13% to $180K nationally. Portland was one of just six metros tracked where the median sale price matched the median asking price, with sellers getting, on average, 92% of what they asked.

BTNMarch14 tableBTNMarch14 line


BTNMarch14 piePDXBTNMarch14 pieUSA


Read more...

The solution to youth unemployment

News
Thursday, February 27, 2014
02.27.14 Thumbnail TeenworkBY ERIC FRUITS

Because they have little chance of working for someone else, today’s teens need to be entrepreneurs. But, first, we must teach our teens that entrepreneurship starts small.


Read more...

Video: Kickstarting Oregon business

News
Thursday, March 27, 2014
02.04.14 Thumbnail VideoBY JESSICA RIDGWAY | OB WEB EDITOR

Watch this OB Original Video about three Oregon companies and how crowd-funding "kickstarted" their business ideas.


Read more...

Revolution in print, pixels and passion

News
Tuesday, March 11, 2014
RyanFrankNewsBY MARK BLAINE | OB BLOGGER

The publisher of the Emerald Media Group moves on, leaving a cutting edge media group that depends on business acumen for its survival.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS