Prevailing Power closes doors

Filed under: Daily News,Uncategorized |

Prevailing Power, the parent company of Rocky Wind Power which was scheduled to expand into Colorado Springs, has gone out of business.

The Valley News Today of Shenandoah, Iowa, is reporting that owner Steve Stultz  has shut the doors to his plant and left town.

The Colorado Springs Regional Economic Development Corp. had put together a $300,000 incentives package to convince Prevailing Power to open a wind generator manufacturing plant in Colorado Springs.

The deal to open here and create 140 jobs fell through days after the expansion was announced when economic development officials learned Prevailing Power was under investigation by the Iowa Attorney General’s office for poor business practices.

Click here to read the Valley News Today story.

The Omaha World-Herald also covered the story here.

Click here to read the CSBJ story about how the Rocky Wind Power deal collapsed.