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White House Awards $2.3 Billion for Clean-Tech Jobs

Original Source: http://www.sustainablelifemedia.com
Original Publication Date: January 11, 2010

January 11, 2010 – President Obama announced the award of $2.3 billion in Recovery Act Advanced Energy Manufacturing Tax Credits for clean energy manufacturing projects across the United States. One hundred eighty three projects in 43 states have been selected to receive the government windfall.

As part of the Recovery Act, these tax credits are focused on putting Americans back to work by building a robust domestic manufacturing capacity to supply clean and renewable energy projects with American made parts and equipment. These credits are also an important step towards meeting the President’s goal of doubling the amount of renewable energy the country uses in the next three years with wind turbines and solar panels built right here in the United States.

This effort, along with other Recovery Act investments, will drive significant growth in the renewable energy and clean technology manufacturing sectors and give the United States the ability to lead globally in these markets. The investment tax credits, worth up to 30% of each planned project, will leverage private capital for a total investment of nearly $7.7 billion in high-tech manufacturing in the United States.

The projects announced today address the broad spectrum of manufacturing capabilities needed to support a robust clean energy economy. The projects were competitively selected through a rigorous merit review process and the companies chosen say they will create more than 17,000 jobs in some of the fastest growing parts of our economy.

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