Skip to comments.Federal 'Stimulus' Spent $8.5 Million For 11 Wind Energy Jobs
Posted on 05/11/2012 1:12:13 PM PDT by MichCapCon
If jobs are any measure, 14 Michigan "green" companies that were awarded $34.5 million in taxpayer funded grants and loans aren't generating much heat.
According to the Michigan Economic Development Corp., the companies have reported a total of 183 jobs. While a final report will not be issued until June, calls and emails to the companies indicate the total number will not be much higher.
The state awarded the grants and loans in 2009 and 2010 under its Clean Energy Advanced Manufacturing Program. The money came from federal stimulus funding under the American Recovery and Reinvestment Act. The federal government handed out a total of $3.1 billion for state energy programs, of which Michigan got $82 million.
One company, Astraeus Wind Energy Inc. of Eaton Rapids, got a $7 million grant and a loan of $1.54 million and has created 11 jobs. If no other workers are hired, those jobs were created at a cost of $776,364 each.
Astraeus co-founder Roger Cope also defends the program, saying he believes the program gives the state its only opportunity for energy independence and that without government subsidies the alternative energy business has an extremely hard time getting off the ground...
(Excerpt) Read more at michigancapitolconfidential.com ...
$189,000 in our tax money to create one “green” job. What’s not to be upset about??
A grant doesn't have to be paid back. What a sweet deal.
Wonder if this is an insider deal?
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