It has never been made clear whether or not Vestas was ever slated to receive any of this money public money. If not – the move to Pearl had no particular economic value to them unless the lease rates were very attractive.

It seemed that according to IRS regs that Gerding and company would not have been eligible for the welfare handout. And now we see that Gerding didn’t need the money in any event, i.e., private financing is available. Arguably Gerding’s greed resulted in the elimination other eligible projects.

Public funding concept is to cause development of projects that otherwise would not be developed because of the lack of private financing. Thus, there is something inherently wrong to spend public funds when private funds are available. My suspicion that developers are permitted to choose between public or private dollars depending on their best profit margin is bolstered.

I would say the same regarding Intel’s apparent ability to qualify for these funds. They obviously have the funds and had no need for this extra incentive. But –

“Schoessler said. “I think this worked out well because the financing not only helped Intel make the decision to invest in Oregon, the timeline is going to entice them to get the project going soon.””

From all that I have read, Intel doesn’t need this money for their project. And didn’t Intel make its decision before Vestas Gerding deal? Isn’t this an afterthought giving away of public funds for private development that doesn’t require public funding as any kind of incentive?

“Gerding Edlen and Vestas remain tightlipped about the source of the private share of the project money. ”

Something just doesn’t smell right. If a private firm is using public funds it seems fair and correct that the source of private financing is also known. It is buying a pig in the poke. If the project fails – public funds are lost. One doesn’t invest in a project without the financials.

This entire Vestas Gerding deal smells, no it stinks. There is more to this story.