I could have told you that thing is not going to sell.
Posted on 07/18/2011 10:51:45 PM PDT by artichokegrower
SALINAS, Calif.- Green Vehicles is empty and it's doors are locked.
The worst part, Salinas lost $540,000 in the closure and now it needs to find something else to hang its economic hat on.
$240,000 the city paid and $300,000 came from a one-time grant for new tech jobs.
Last year, Salinas mayor Dennis Donohue test drove one of the new green vehicle proto-types.
Salinas was beyond excited when start up company "Green Vehicles" wanted to come to their city, but, "This is disappointing as all get out," said economic development director Jeff Weir.
As of last week, and this blog from the president announcing green vehicles closure, a huge tax base and revitlization of the old Firestone Business Complex, being on the cutting edge of the alternative energy industry and 50 new jobs just to start, turned into a pipe dream.
"And then on top of that all the different suppliers we had them introduce us to brand new battery manufacturing company that's on the cutting edge of technology," said Weir.
But now that business won't come.
Green Vehicles was awarded nearly $2.8 million from Ca Energy Commission but could never get investors to match the funding.
"They were awarded this money from the CEC sixteen or eighteen months ago and it just begun to start to trickle out...The traditional investment community have just draw back from anything having to do with alternative energy. They're just waiting to see who survives."
It won't be Green Vehicles. Now, Salinas must re-evaluate what economic driver they will hang their hat on next.
"We just cannot not do this we have to go out and get new businesses to come, but we have to understand what we are committing ourselves to...We have 4,000 young people graduating every year, new jobs don't happen by themselves you got to participate, you have to help make it happen," said Weir. The city doesn't know if it will be able to re-coup any of the money it lost.
Salinas said it will review everything it did with the company and learn for the experience to be smarter next time.
Another “Green” scam bites the dust!
Now the company will be “green” with weeds...
Government should not be investing in specific companies and trying to pick winners and losers. They got gamed by their own greed.
Do you really grow artichokes? They are my favorite!
In fact, what business is there may want out.
Ahh, but the smell of garlic as you descend down 152 into those lush valleys. What a very pretty place it is.
Hoopties 4 Hybrids
Money was stolen... bit by bit.
Salinas said it will review everything it did with the company and learn for the experience to be smarter next time.
Not likely.... Not at all.
Liberals don't seem to be smart enough to ever learn from their failures.
The technology is not there yet. Green vehicles are like fast trains. Pipe dreams. In the 19th century, even, many railroad companies went bust because they found no market, even with government land and subsidies and mail contracts. Passanger service has never made money even in the heyday of the RR. Freight has always been the profit maker.
At least the townsfolk didn't lose their homes.
-PJ
I could have told you that thing is not going to sell.
Yes I do grow artichokes. We’ve got about 6,000 acres of them.
I was born in Monterey, and Mom used to cook artichokes all the time. I’ll bet most of ‘em came from your place (’course that was 50 years ago).
This is Salinas you know.
“Liberals don’t seem to be smart enough to ever learn from their failures.”
Completely untrue. They invariably blame failures such as this to lack of scale; subsequent failures are larger and therefore more expensive.
Well...strawberries being red on the inside....you know...
Monorail !
“Green Vehicles was awarded nearly $2.8 million from Ca Energy Commission but could never get investors to match the funding.”
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The clear difference between spending other people’s money, and spending your own.
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