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Cost to Revive Economy With Battery Plant Subsidies: $5 Trillion

… electric car battery plant owned by the Korean firm LG Chem. The federal contribution is $151 million in "stimulus" … half the state's total output for a year.) LG Chem's owners are not the only battery-plant operators … battery packs will take place at both this and the LG Chem Holland plant, with primary production actually …

Cost to Revive Economy With Battery Plant Subsidies: $5 Trillion

… electric car battery plant owned by the Korean firm LG Chem. The federal contribution is $151 million in "stimulus" … half the state's total output for a year.) LG Chem's owners are not the only battery-plant operators … battery packs will take place at both this and the LG Chem Holland plant, with primary production actually …

Terrible Track Record

Government's 'green' venture capitalism experiment a failure.

… be one of the biggest green failures in the country. While countless articles have been dedicated to exposing green failures like Solyndra, A123, LG Chem, Energ1 and others, Frontier, which is a part of Mascoma Corp., has received little media attention. In June, Michigan Capitol Confidential reported that …

Analysis: Michigan Taxpayers to Write $100 Million Check to Korean Battery Maker

… of the South Korean battery maker LG Chem. The MEDC in effect converted the … Jennifer Granholm in May. It absolves LG Chem's American subsidiary, Compact Power, … the form of cash disbursements. LG Chem's facility is one of four such plants … their facilities to become renaissance zones. LG Chem was just the first such conversion …

Wishful Reporting of Governor’s Investment Missions

… pitching foreign companies on the business climate in Michigan, though some of that might occur, but by promising taxpayer incentives. For instance, the LG Chem plant the governor cites was awarded $100 million in refundable credits. Offering these taxpayer dollars can cost the economy jobs, too, and are not …

Michigan Taxpayers Writing Check to Second Electric Car Battery Maker for $100 Million

… Systems renaissance zone award actually preceded one to the Korean firm LG Chem for a Holland plant, as reported in Michigan Capitol Confidential on July … $100 million "refundable" business tax credits for both A123 Systems and LG Chem.* "Refundable" means that the state will send the companies a check for …

Michigan Taxpayers Writing Check to Second Electric Car Battery Maker for $100 Million

… Systems renaissance zone award actually preceded one to the Korean firm LG Chem for a Holland plant, as reported in Michigan Capitol Confidential on July … $100 million "refundable" business tax credits for both A123 Systems and LG Chem.* "Refundable" means that the state will send the companies a check for …

Electric Vehicle Battery Subsidy Failures Evident Early On

Former Gov. Granholm defends her policies in Detroit Free Press article

… A123 Systems, Dow Kokam, Johnson Controls and L.G. Chem. Nearly $600 million in federal money alone was … Articles also were done on the failed promises of LG Chem; the GOP reviving the subsidy program after vowing … bankruptcy in October 2012. ~~~~~ See also: LG Chem: A Look Back at the Failed Predictions MEDC Removes …

Granholm Predicted 62,000 Michigan Battery Jobs — There's Less Than 1,800

She made big boasts on electric vehicle subsidy deals

… number of jobs that would flow from the many subsidies she authorized for battery makers. In a conversation with the one of those company’s CEO, LG Chem’s Peter Kim, she said the following: “During our meeting, Mr. Kim remarked that Michigan is becoming a world capital for advanced batteries,” Granholm …

Michigan Senate Revives Corporate Welfare Scheme Governor Vowed to End

Bill authorizes $50 million from state for another electric car project

… a second electric car battery assembly plant owned by the Korean firm LG Chem is now operating in Holland. This state money is in addition to federal … workers rather than the 3,000 predicted by President Obama and the company. LG Chem was given $151 million in federal "stimulus" money. ~~~~~ See also: …