Comments on: ReVolt chooses headquarters site near PDX

By: Old Town

Old Town — Sat, 28 Aug 2010 20:01:35 +0000

Wasn’t it the Daily Journal that announced on May 5, 2010 that “. . . ReVolt [chose] Portland as the location for its U.S. headquarters and a research-and-development facility?” It wasn’t quite set in stone – was it? There was still negotiations where the company held its $5 million federal award and potential jobs hostage for the $6.8 mil funding package.

It might be interesting – certainly informative – to know how the $6.8 mil is spread across the sources. What is the interest rates of the loans? Are any of them forgivable? What tax credits? Are these state income tax credits? If PDC is a loan source – then can it be assume that TIF is the revenue source for the loan?

A Perspective

By: Old Town

Old Town — Sat, 28 Aug 2010 17:55:49 +0000

Revolt "expects to hire 150 employees over the next five years." With $6.8 million in loans and tax credits was there any conditions on hiring the expected 150 employees within 5 years? Is this the same 5 years that PDC and city expects to produce 10,000 net new jobs? Portland Tribune: http://www.portlandtribune.com/news/story.php?story_id=125555333382725400 A Perspective

By: nativePDX

nativePDX — Sat, 28 Aug 2010 15:35:47 +0000

It looks like to be sustainable and green it only takes $6.8 million in loans and tax credits from the Portland Development Commission and via the Oregon Department of Energy’s Small Scale Energy Loan Program and the Business Energy Tax Credit program!

The new green movement ( $$) is going to bankrupt us!