San Diego Housing Market News and Analysis
Stimulus I can live with
User Forum Topic
Submitted by AK on July 3, 2010 - 8:24pm
Sourcing from Fox News to maintain my fair-and-balanced reputation.
True, $2 billion ain't peanuts, but AFAIK this is in the form of loan guarantees and not just grants. This will create manufacturing jobs in the U.S. (holy crap!) and make some incremental contribution to energy independence ... which is a good thing whether or not one believes in global warming. And at $2 billion for an estimated 5,000 jobs (some of them even long-term) the bang for the buck seems to be an improvement over the quoted figures for infrastructure projects.
Even if one of the beneficiaries is a Spain-based multinational.
The Energy Department is awarding nearly $2 billion in conditional commitments from federal stimulus funds to Abengoa Solar and Abound Solar Manufacturing. In return for the funds, Abengoa Solar has agreed to build what the administration says will be one of the largest solar plants in the world in Arizona. It will be capable of providing clean energy to 70,000 homes.
The Obama administration estimates the Arizona plant will create about 1,600 construction jobs, with more than 70 percent of the construction components and products used to build it manufactured in America.
Abound Solar Manufacturing agreed to build two new plants in exchange for the funds, one in Colorado and one in Indiana. The administration says these projects will create more than 2,000 construction jobs, and more than 1,500 permanent jobs as the plants produce millions of solar panels each year.
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