Green jobs are a huge issue for me, so I find this very exciting...
WASHINGTON, DC, December 16, 2009 (ENS) - At a Middle Class Task Force meeting today which focused on manufacturing, Vice President Joe Biden announced the administration's support for up to $5 billion in additional funding for a successful Recovery Act program that will accelerate job growth in Clean Energy Manufacturing.
This increase would more than triple the funding of the Recovery Act's Section 48C Advanced Energy Manufacturing Tax Credit.
The program covers a number of clean energy technologies, providing a 30 percent tax credit for investments in factories that manufacture products used in clean energy technology.
"American manufacturing plays a vital role in our society and economy. It was instrumental in building our middle class and we must work with the industry to retool to remain competitive for the economy of the future," said Vice President Biden.
"We have to jumpstart growth in green manufacturing – and part of that is encouraging companies to build the components of green technology right here on American soil," Biden said. "By combining the most talented workforce, the most entrepreneurial businesses, the best universities in the world with seed capital from government investment, we can once again produce cutting-edge technology that creates 21st century jobs here in America."
An additional $5 billion would support at least $15 billion in total capital investment, creating tens of thousands of new construction and manufacturing jobs.
"Because there is already an existing pipeline of worthy projects and substantial interest in this area, these funds will be deployed quickly to create jobs and support economic activity," Biden said. "In doing so, the administration will employ new approaches to ensure that we maximize private investment for every dollar we invest.read the rest at
http://www.ens-newswire.com/ens/dec2009/2009-12-16-094.aspIt's about time!