Compact Power is the name of a manufacturing plant built in Michigan and owned by a South Korean company called LG Chem. The plant was built with $150 million of taxpayer money. They were supposed to build batteries for the Chevy Volt, a vehicle produced by “Government” Motors that has yet to do anything except lose money. The taxpayer funded batteries plant hasn’t even produced 1 battery yet, and now, 2 years after they received the taxpayer money, they’re having to furlough their workers. FoxNews.com reported:
The 650,000-square-foot, $300 million facility was slated to produce 15,000 batteries per year, while creating hundreds of new jobs. But to date, only 200 workers are employed at the plant by the South Korean company. Batteries for the Chevy Volts that have been produced have been made by an LG plant in South Korea.
At Compact Power’s groundbreaking ceremony 2 years ago, Obama said to his audience, “You are leading the way in showing how manufacturing jobs are coming right back here to the United States of America. Our goal has never been to create a government program, but rather to unleash private-sector growth. And we’re seeing results.” $150 million and 2 years later, all they have to show for are 200 jobs that have to forgo 1 week’s pay per month because of a lack of demand for electric car batteries.
Post Continues on politicaloutcast.com