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

Downtime with Ron Green

March 2014
Tuesday, February 25, 2014
BY JESSICA RIDGWAY

Ron Green became president and CEO of Oregon Pacific Bank in August 2013.


Read more...

Rapid ascent

March 2014
Tuesday, February 25, 2014
IMG 4255-2BY AMY MILSHTEIN

Kelly Dachtler, president of The Clymb, redefines outdoor retail.


Read more...

Eking out a living

News
Tuesday, April 08, 2014
04.08.14 thumb ourtable-coopfarmsBY HANNAH WALLACE | OB BLOGGER

It may be obvious, but most farmers don’t make a lot of money. According to preliminary data from the 2012 Agriculture Census, 52% of America’s 2.1 million principal farm-operators don’t call farming their primary occupation. Farm cooperatives may offer a solution.


Read more...

Spreading the wealth

March 2014
Tuesday, February 25, 2014
HiResBY PAIGE PARKER

A money management firm broadens its reach. 


Read more...

Banishing oil burners reaps benefits for schools

News
Tuesday, April 01, 2014
04.02.14 thumb co2schoolsBY APRIL STREETER | OB CONTRIBUTOR

Three years ago, PPS set out to begin to convert the 1930s-era boilers from diesel/bunker fuel to cleaner-burning natural gas. Oregon’s largest school district has realized impressive carbon dioxide emissions reductions, setting an example for public and private institutions.


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...

The more they change, the more they stay the same

March 2014
Tuesday, February 25, 2014
100-best-collageBY BRANDON SAWYER

The 100 Best Companies get more creative with perks and more generous with benefits; employees seek empowering relations with management and coworkers.


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