09 January 2010

Michigan to get $224 million in clean energy credits

Michigan to get $224 million in clean energy credits

This is a trip:

WASHINGTON -- President Barack Obama unveiled Friday $2.3 billion in tax credits for manufacturing clean energy goods, including $224 million for Michigan factories to boost solar cell and wind turbine production.

The credits were part of the $787-billion economic stimulus package the Obama administration shepherded through Congress last year and were aimed at production of parts for wind turbines, solar panels and other energy-saving technology.
The credits are good for 30% of the investment; the White House said the credits would be matched by more than $5 billion in private spending.
Obama said the credits "will help close the clean energy gap that has grown between America and other nations while creating good jobs, reducing our carbon emissions and increasing our energy security."
In Michigan, the largest tax credit was won by Hemlock Semiconductor, which was granted a $141.9-million tax break to expand its solar panel plant in Hemlock.
Eight other firms won credits ranging from $300,000 to $27.3 million.

The ugly rest at the link.

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