Green Truck LP

Project Description

Between 2010 and 2023, the State of California is phasing in the most restrictive environmental regulations  in  the  country.   By  2014,  all  trucks entering  California  must  be  equipped  with engines meeting 2007 standards or equivalent. This will mean that older trucks will need to be replaced, or retrofitted,  in  order  to  comply  with  these  regulations.  With  nearly  50%  of  all  the trucks  in  the  U.S.  driving  through  California,  these regulatory  requirements  will  effectively become the national standard. PNWERC  has  identified  a  significant  market  demand  in  the  four-state area  of  Washington, Oregon,  Idaho  and  Montana  (the  "Pacific  Northwest  ")  to  create  fleets  of  compliant  trucks ("Green Trucks")  which will replace old highly-polluting trucks and facilitate ongoing interstate trade with California, Canada, and within the Pacific Northwest. To comply, Green Trucks will be 2008  model  year  or  newer  with  engines  manufactured  on  or  after  2007.  In  addition  to  the regulation-driven truck replacement imperative, Green Trucks are required to meet demands for truckload capacity created by increased regional economic growth; estimated at 14% for the five year period 2010 - 2015.

Effective  January  1,  2014  non-compliant  trucks  will  be  barred  access  to  California.  Other important ports and freight  hubs  in the Pacific Northwest and Canada will soon follow suit.   In response  to  this  perfect  storm  of  opportunity,  PNWERC  established  Green  Truck  I  Limited 
Partnership,  a  new  commercial  enterprise,  (the  “Partnership”)  that  will  inject  much-needed capital into the trucking industry in the Pacific Northwest.  The Partnership  is a  for-profit  limited partnership registered to carry on business in Washington, Idaho, Oregon, and Montana. The  Partnership  is  registered  with  the federal  Department  of Transportation  to  operate  as  an interstate freight carrier in the Pacific Northwest. Immigrant investors will be the limited partners. Green  Truck  General  Partner,  LLC  is  the  general  partner.  The  Partnership  is  fully  registered 
with  the  Department  of  Transportation  and  will  operate  within  the  general  freight  trucking industry (NAICS 4841). Truckload demand in the Pacific Northwest is increasing, while supply is being restricted by new rigorous environmental regulations and the inability of local owner-operators to obtain compliant vehicles. To meet this market need, the  Partnership  intends to raise $5 million from ten limited partners under the purview of the EB-5 immigrant investor program to finance and deploy a fleet of approximately 100 Green Trucks.