Portland program helps paper mill.(Industry news: current happenings and events)

PORTLAND, OR -- Blue Heron Paper Company worked with Energy Trust of Oregon, Inc., Oregon Department of Energy, and the Climate Trust to receive loans, financial incentives, and energy tax credits that will help the company expand and modernize paper-recycling operations--substantially reducing electricity consumption and improving efficiency. When the project is complete, Blue Heron will increase its paper-recycling capacity by over 100 tons per day and save millions in energy costs annually. As important as the bottom line benefit, Mike Siebers, president, says the investment will increase the company's global competitiveness, providing more job security and job growth opportunities for its employees. Upfront costs for efficiency offset by incentives, tax credits and loans Even with such significant energy savings, capital costs for new industrial equipment can be a barrier to investment in energy efficiency. To help clear this hurdle, Energy Trust will provide incentives from the organization's Production Efficiency program. Along with this the Oregon Department of Energy is providing construction and term financing through the Energy Loan Program as well as Oregon State Business Energy Tax ...