Posted: Wednesday, November 4, 2009
Five economic development institutions in Oregon and
Washington have received nearly $200 million in tax credits.
The aim is to stimulate job creation and launch “green” businesses.
The tax credits come from the U.S. Treasury. Outfits like the City of
Seattle, ShoreBank Enterprise Cascadia, and the conservation fund
Ecotrust will match worthy projects with private investors who want
to reduce their taxes. Bettina von Hagen is vetting qualifying
investments for Portland-based Ecotrust.
Von Hagen: “What the tax credit does is it recognizes that
disadvantaged communities are often at a disadvantage in terms of
securing capital. The tax credits help provide sort of that final
boost in terms of the final assembly of the financing packages for
one of these public spirited enterprises.”
Von Hagen says projects Ecotrust has in the pipeline include
helping an unnamed Indian tribe reacquire former reservation
forestland for its timber business.
Copyright 2009 Northwest News Network