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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 Nfarce on 8/5/2009 3:42:13 PM , Rating: 2
quote:
Not sure what to make of the article, as it sounds like a decent plan if it helps the State, but all this Obama/Administration hate you see across the internet would be hilarious if it weren't scary


It amazes me is how short of a memory people have. How soon we have forgotten the hate that was put on Bush for the last 8 years, and need I remind you of an independent film award that went to some nut who made a movie about Bush being assassinated (not a character playing president, but BUSH). Let me know if you see anything like that coming at our current president. [chirp][chirp][chirp][chirp]

In fact, what also amazes me is the current hate for Sarah Palin, the Tea Party protesters, and now it seems people who actually stand up in these so-called Town Hall meetings and DARE question Obama (or Congress for that matter). Top that off with the vitriol against the Right in general by the Left in this nation, and you have a toxic political atmosphere. Lurking on Democratunderground, Daily Kos, and the Huffington Post is eye opening.

No, it's not scary nor hate. It's called being the "loyal opposition" as the Bush haters said. The Bush people put up with it for 8 years - now the shoe is on the other foot. And I won't even bring up the record deficit spending in 8 months currently which towers over 8 years of Bush deficit spending.


RE: Michigan
By mikefarinha on 8/5/2009 5:23:33 PM , Rating: 2
The funny thing I noticed when watching the people shouting down the politician's look like normal people. Unlike the liberal protesters that all look like college students.


"When an individual makes a copy of a song for himself, I suppose we can say he stole a song." -- Sony BMG attorney Jennifer Pariser














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