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Joe Biden is in Michigan today, reportedly to announce the first round of $2B in battery grants.  (Source: The Weekly Standard)
Grants bring good news to state's troubled economy

Michigan is among the states that has been hit hardest by the recession.  The government went to extreme measures to keep the state's economy from collapsing, including assuming majority ownership of GM and propping up Chrysler through bankruptcy.  Now the federal government is preparing to reach deeper into its pockets to help the state out even more.

Vice President Joe Biden is in Michigan today at the NextEnergy Center in Detroit.  He is reportedly going to announce the first round of $2B USD in Department of Energy battery grants.  The grants should boost the state's economy and help develop better electric vehicles, currently favored as the future of the car industry by the domestic automakers.

The federal government is also separately loaning money to battery manufacturers under the $25 billion Advanced Technology Vehicle Manufacturing Incentive Program (ATVM).  Among the battery manufacturers that applied for that loan are A123 Systems, EnerDel, and Compact Power.  Thus far Ford, Nissan, and Tesla Motors received ATVM loans.  It is unknown who the grants will go to, but A123 Systems, EnerDel, and Compact Power seem like leading candidates.

Ed DeSeve, the president's special advisor on the stimulus program, had stated about on July 21, "I think you'll see over the next week or so ... some industrialization focus, for example, on the battery grants that are coming.  It makes sense to put those in places where there is productive working capacity -- people who can do the jobs. There are plants where the jobs can exist, and I think you are going to start to see more and more of that over time."

The ATVM loans must be repaid eventually by automakers and battery makers.  However, the DoE grants do not have to be repaid.  Michigan has also offered battery makers some big tax cuts in hopes of luring business into the state.

A limited amount of tickets to Mr. Biden's appearance have been offered to the public on a first-come-first-serve basis.

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RE: Michigan
By Hiawa23 on 8/5/2009 1:50:18 PM , Rating: 0
What I find funny is all the Liberals who are complaining and whining about people who make fun of their "great one."

I wouldn't call myself a liberal although I voted for Obama, I think most of us want a country that works for everyone, rich or poor, White or Black or everyone, or whatever. I wish Obama well, but he is no, so called "Great one," like some likes to label anyone who supportd this man. Say what you want, blame who you want, but what this man pulled off to me is nothing short of amazing, especially given the state of this country. I don't agree with everything he says but I will continue to support him, & any names the internet haters want to label me, I am fine with it. As far as the battery deal for Michigan, I don't pretend to even know the answer of how to fix many of this countrries problems that have been decades in the making, but I am for most prgrams that keeps american working, or prevents someone else from losing their jobs. I am not bashing, all I am saying is can we start repairing these problems instead of Blacks Spanish Whites Republicans Dems Independents, other on their side of the fence lobbying grenades at the other sides & come together & fix the issues. Seems like alot are blaiming but not enough are trying to solve.

RE: Michigan
By MrBlastman on 8/5/2009 2:10:03 PM , Rating: 4
What has he pulled off?

Short of getting elected, he has done nothing other than spew hot air and spend money for the most part.

Results are amazing, accomplishments are amazing - just getting elected and put in the door, that isn't amazing.

Results talk, hot air just gets cold after a while...

That's the problem. Too many people think it is amazing he got elected when really, it wasn't so much. We had horrid candidates on either side - and most everyone agreed in America at the time that we were tired of Bush. I'll wait and see what he accomplishes before I even begin to use the word "amazing."

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