Buy America Works
Posted by jeckert on 01/27/2010
Indianapolis, Indiana:
EnerDel, a Lithium-ion battery manufacturer headquartered in Indiana, will invest $237 million in a new plant that will create 1,400 new jobs. The project comes complete with a Buy America provision:
State and local economic development incentives are valued at $69.9 million, which comprises a state incentive package of$21.3 million and Hancock County package valued at $48.6 million. EnerDel has also applied for an additional $9 millionfrom Federal Government development programs. "Demand for high-performance lithium-ion battery systems is expanding dramatically, for vehicles of all sizes as well as the utility grid, and we are going to be fully prepared to meet it with a product stamped 'Made in America'," said Charles Gassenheimer, Chairman and CEO of EnerDel parent company Ener1, Inc. ( HEV).The new plant will be financed by a federal stimulus package grant of $118.7 million under a 50/50 cost share program. Read more here.
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