What the Governor’s Talking about
Today
Friday, January 15,
2010
Granholm Joins Other
Governors to Request Help for Manufacturers
Governor Granholm today joined the governors of
Illinois, North
Carolina, Ohio, Pennsylvania and Wisconsin in writing Treasury Secretary
Timothy Geithner to request that the Treasury Department consider additional
initiatives to help manufacturers gain access to
credit.
The governors said that additional assistance for
American manufacturers can help them diversify into new industries, which will
help the United
States lead in emerging sectors and create new
jobs.
Key
messages:
- Manufacturers have
been hit hard by the economic downturn, leaving many unable to access needed
credit to adapt and transition into high-growth sectors. To protect jobs
and prevent foreign manufacturers from gaining competitive advantages, we need
to ensure that American companies have access to
capital.
·
The governor and the Michigan
Economic Development Corporation (MEDC) have already taken action to address
these issues regarding credit access. In 2009, MEDC began the Michigan
Supplier Diversification Program which used state resources to leverage private
loans for manufacturers seeking to diversify into new sectors, including clean
energy. Through this program, MEDC was able to use $12 million in state
funds to leverage more than $41 million in private capital for manufacturing
projects in 2009, a ratio of more than three-to-one.
- Manufacturing is a
major economic driver in the United States, accounting for more
than $1.4 trillion in national income in 2008. Manufacturing companies
also make up 70 percent of all research and development performed by
U.S. industries.
Governor Says Future of
American Auto Industry on Display at Auto Show
In her weekly radio address, the governor said today the
future of the American auto industry is on display at the North American
International Auto Show in Detroit.
“I got a sneak peek of the auto show earlier this week,
and here’s what I saw: the future of the automobile and the American auto
industry is electric,” the governor said. “Electric cars were on display
everywhere throughout Cobo Hall. These electric cars are going to be
powered by advanced batteries, and both the cars and the batteries are going to
be made in Michigan.”
Key
messages:
- Just last week at
General Motors’ Brownstown Township facility, the nation’s first
advanced lithium-ion batteries for mass production vehicles began rolling off
the assembly line. These batteries will power the Chevy Volt which goes
into production late this year. The Volt will be made in Michigan, with General Motors investing $700 million in
eight of its Michigan facilities to produce
it.
- On Monday, Ford
announced plans to invest an additional $450 million in Michigan, for a total
of $1 billion, to produce its electric vehicle. Ford’s electric car also
will be assembled in Michigan, and the
company will move its battery pack assembly here from Mexico.
- Federal assistance
has been crucial to advanced battery and electric vehicle manufacturing and
development. President Obama and his administration, Congress and in
particular the Michigan congressional
delegation all have been instrumental in supporting a domestic battery
industry and electric cars made in America.
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