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Iberdrola Renewables agrees to stay in Portland for $1,155,000

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Thursday, February 02, 2012

Portland offered a $1,155,000 grant to Iberdrola Renewables to keep its North American headquarters in the city for at least seven years.

The Portland Development Commission's board is expected to approve the deal during a public meeting next Wednesday. 
Officials offered the incentive even though Spanish-owned Iberdrola is struggling along with much of the rest of the clean-tech industry. The company laid off 25 Portland workers last week, leaving about 350 employees here out of a U.S. work force of about 850. 
But Portland Mayor Sam Adams, who traveled to Spain a year ago to ask executives to keep their operation here, described the city's proposed contribution as an investment in an industry that provides high-skilled well-paid jobs.

Read more at OregonLive.com.

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