Oregon Public Broadcasting

The Danish wind turbine manufacturer Vestas, announced Wednesday that it's going to move its U.S. headquarters to Portland's Pearl district.

Vestas moved to Oregon in 2002, but has been slow to consolidate in one location.

This announcement keeps 400 jobs in Portland and will generate another 400 construction jobs refurbishing the old Meier & Frank warehouse.

Many Portlanders know the building well, having waited outside in line for the company's legendary warehouse sales.

Portland Mayor, Sam Adams, says the move strengthens the city's position as the nation's capital of sustainable energy.

Sam Adams: "I want to say, we had to compete for this. Vestas has a fiduciary duty to look for the best possible place to locate their business. And they put us, as one would expect, through the wringer."

As part of the deal Portland gave Vestas a 15-year, no-interest loan of $8 million.

The state also gave Vestas $2.25 million on the proviso it add at least 100 jobs in Oregon.