Rocky Wind Power’s parent company, Prevailing Power, is being investigated by the Iowa State Attorney General’s Office.
Colorado Springs Regional Economic Development Corp. officials made that announcement today after they acknowledged earlier that their announcement about the company’s planned relocation to the city last week contained “inconsistencies.”
“Initial research by the CSREDC on the company, including an on site visit with the company owners at their facility in Iowa, provided an indication that the company was viable,” the EDC said in a statement. “However, as a result of the company’s recent announcement of their intentions to establish a presence in the Pikes Peak Region, prior customers, employees and clients have provided new information that reflects the company’s credibility and past performance have not been consistent with what was stated by the company official, Steve Stultz.”
The statement went on to say that the EDC has learned of a number of registered complaints against the company.
Despite the fact that the EDC hosted the press conference last week to announce the company’s move to the city and the 150 jobs it would bring, the EDC said prior involvement with Rocky Wind Power “in no way constitutes an endorsement” of the company.
Steve Stultz, the CFO of Rocky Wind Power, said last week that the company planned a manufacturing facility here to make small wind-powered generating plants which could be installed on rooftops, as well as wind-powered streetlights.
“There’s information out there that seems to contradict things that were said at the press conference,” EDC President Mike Kazmierski said. “We feel that we have an obligation to the community to share that information.”
Stultz said the decision for him and his wife, Pam, who is the company’s CEO, to choose Colorado Springs came down to one thing – the effort the city and EDC Marketing Vice President Dave White made to woo them.
The city, county and state offered the company a relocation package valued at $376,000, which included tax credits and job training.