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Déjà vu: Michigan going all-in on taxpayer-subsidized battery plants
State battery subsidies have been an enormous bust so far
… credits for battery cell manufacturing. In a report to legislators, the Michigan Strategic Fund noted that it had approved funding for five companies: A123 Subsystems, Dow Kokam, fortu PowerCell, LG Chem and Johnson Controls-Saft. These subsidies helped land investments and short-term jobs, but at a massive … more
‘Economic Development’ Week Skips the ‘Development’ Part
Corporate welfare claims are grand, but the results are practically nonexistent
… alternative battery company called A123 Systems in a 2010 press conference, … alternative energy companies such as A123 Systems would create 63,000 jobs in … Barack Obama. Obama congratulated A123 Systems on reaching “a tremendous milestone.”
But A123 Systems filed for bankruptcy in 2012 … more
Failed Corporate Welfare Flashback: Company Warned, ‘We Have Never Been Profitable’
A123 Systems was an electric car battery company that received millions in taxpayer-funded subsidies from the state and federal government before filing for bankruptcy in 2012.
A123 Systems wrote this in its 2011 annual report:
"Risks Related to Our Business … more
State Paid Company To Create Michigan Jobs — Or Move Them Elsewhere
One of Granholm’s failed electric car battery deals
…
One of the firms was called A123 Systems Inc. The agency stated, … wasn’t the whole story, as A123 Systems explained in its own … Michigan. But this deal let A123 Systems keep the benefits even … been shipped out-of-state.
A123 Systems filed for bankruptcy … October 2012.
In the SEC report A123 Systems stated, “We experienced … more
Granholm Brings Michigan’s Failed Green Energy Subsidies To Washington
Former governor, now U.S. energy secretary, visits state promoting same plan as if it worked
… reported by the news site executivegov.com.
What follows are examples of private companies that benefited from Granholm’s policies from 2003-2011:
A123 Systems was a Michigan lithium battery manufacturer that in 2010 received $141 million in state tax credits and discounts, and $249.1 million in federal … more
Yes, Granholm's Administration Gave Cash To Failed Electric Car Battery Company
She denied it in a U.S. Senate confirmation hearing
… the hearing.
Barrasso cited A123 Systems, a company that had promised 3,000 jobs in Michigan. A123 Systems received authorization … bankruptcy. A Chinese firm bought A123 Systems’ intellectual property. …
Granholm’s administration offered A123 Systems $100 million in battery … the public. It is known that A123 Systems received state payments … more
Former Gov. Jennifer Granholm Oversaw Parade Of Failed Green Energy Boondoggles
Would-be energy secretary’s record not promising
… then living in a borrowed room of a trailer. Short went back to prison.
A123 Systems: Granholm joined U.S. Sens. Debbie Stabenow and Carl Levin at an … perform a product recall, then was restructured in federal bankruptcy court. A123 Systems has given up manufacturing in Michigan altogether.
Mascoma: In … more
Granholm’s Green Energy Boondoggles No Bar To Selection As Biden’s Energy Secretary
Former Michigan governor finally gets gig 12 years after pitching herself to President-elect Obama
… oversaw several other green energy failures.
For example, a company called A123 Systems had claimed it could create 3,000 jobs at an advanced battery plant … into a September 2010 Granholm press conference to promote the company. A123 Systems eventually filed for bankruptcy in October 2012 and was bought by … more
Watch The Fine Print On ‘Green Jobs’ Claims
Speculation often treated as fact, and definition may be only in eye of beholder
… Granholm highlighted the advanced battery manufacturer A123 Systems as a key to transforming Michigan’s economy. … predictions never came to be, however. For example, A123 Systems had projected it could create 3,000 jobs … The jobs that appeared did not remain for long. A123 Systems eventually filed for bankruptcy in October … more