01/10/2009 05:12 am ET Updated May 25, 2011

Renewable Businesses Bring The Green To Portland

Oregon's bid to cash in on its green appeal has given Portland's weakening commercial-real-estate market an early holiday gift.

Denmark-based Vestas Wind Systems AS said this month that it is planning to build a new North American headquarters in the city. Negotiations still are under way and the site isn't set, but the project is likely to be more than 500,000 square feet and be valued at about $250 million.

Vestas Americas, which has been in the city since 2002, has roughly 300 employees in about six leased office locations totaling about 100,000 square feet in the Portland area, says Roby Roberts, a spokesman for Vestas, one of the world's largest wind-turbine suppliers. Vestas, despite the credit-starved times, hopes to start construction next year.
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