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Oregon is set to benefit from a nearly $1 billion investment from Cypress Creek Renewables, a solar energy developer that supplies electricity to utilities. The company already operates seven solar developments in the state, and there is the intention to build five more as a result of this investment. The company, which operates in 15 states, sees immense potential for solar energy job growth in Oregon — according to the Solar Foundation, about 4,500 people were working in that industry in 2016, up from about 3,000 in the previous year. Crucial to Cypress Creek’s initial expansion was the passing of 2016 legislation that created the Solar Development Incentive program, which paid companies half a cent each month for every kilowatt-hour of clean, renewable electricity they produced. These payments expire after five years.¬†Otherwise, Oregon’s economic development agency gives the company no loans or incentives.

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