VP Biden hails start of new battery plant

[Ed Barrow]

Hailing Dow Chemical's latest project as "the beginning of a revolution" for Michigan manufacturing, Vice President Joseph Biden celebrated Monday the start of construction on Dow Kokam's advanced battery facility.

Dow Kokam, a joint venture between Dow Chemical Co. and TK Advanced Battery LLC, has received more than $200 million in federal and state aid to produce advanced lithium-ion batteries for the electric vehicle industry. The venture has received $161 million in federal stimulus funds and $42 million worth in state tax credits.

The project, which is projected to create up to 800 "green-collar" jobs and another 1,000 jobs to build the facility, will bolster Michigan's future as a manufacturing hub, Biden and other officials said.

...

The batteries will target "high-performance, high-end" vehicles and will likely come to market in late 2012, said Ravi Shanker, CEO and president of Dow Kokam. The facility is expected to produce up to 60,000 plug-in hybrids or 30,000 electric vehicles a year.


http://www.detnews.com/article/20100622/AUTO01/6220333/1148/VP-Biden-hails-start-of-new-battery-plant

[gateley]

1. When Joe was a lowly Senator he was the one who spearheaded the funding for

research into lithium-ion batteries. I'm glad he was able to participate in this.

[SunnySong]

2. Thats 250,000 in free cash for the company for each "job" created

where can I get in on this scam...

[Wilms]

5. Of course, there are many non-labor costs involved in such an endeavor, I'm sure you know.

So your point is...?

:hi:

[SunnySong]

6. Yes but those are assets that the company gets to both depriciate and also keep.

They add directly to the book value of the company.

250,000 per job created seems awfully steep. With 10 percent plus unemployment (About 15 million in may) that comes out to 3,750,000,000,000 to create jobs for everybody/

[Wilms]

7. You keep pushing your slanted 250K per job meme. I don't buy it.

An investment was made in friendlier technology, AND US jobs. Care to mention the upside?

Get over it when the customer comes through your doors with a paycheck to spend and the revenues generate tax dollars. (Then you'll bitch about that.)

[SunnySong]

8. It's not a meme it is simple math. That said I am not declaring this plant a bad thing

I am simply pointing out that this is hardly a workable solution for unemployment (considering the extrapolated 3 trillion dollar price tag) and is a pretty sweet deal for the owner.

[Wilms]

9. I think it's likely short sighted. n/t

[Wilber_Stool]

3. I suppose he got tired

playing the Sitar.

[gateley]

4. The audiences really diminished over the years we became unable

to squeeze into our Nehru jackets.