Friday, October 21, 2011

Taxpayers Supported Company that Ships Jobs to Finland



A company that was supposed to create hundreds of American jobs by making electric vehicles in America took over $500 million in taxpayer-supported loans and instead created the manufacturing jobs in Europe, according to ABC News.

Fisker, a company similar to Tesla, took a $529 million loan guarantee from the federal government with plans to produce its new electric vehicle in America.

The move was touted by Vice President Joe Biden as a big step toward a new future in American manufacturing.

"Folks, we're making a bet," Biden said on Oct. 27, 2009. "We're making a bet on the future, we're making a bet on the American people, we're making a bet on the market, we're making a bet on innovation."

Instead of following through on its plans to manufacture the vehicles in America, Fisker decided to move production to Finland.

The company's CEO said that the decision was the result of not having capable facilities in the U.S.

"There was no contract manufacturer in the U.S. that could actually produce our vehicle," Henry Fisker, the car company's founder and namesake told ABC News.

"They don't exist here."

The company originally planned to create 500 manufacturing jobs in America, now there are only about 100 doing research and other functions.

"We're not in the business of failing; we're in the business of winning. So we make the right decision for the business," Fisker told ABC News.

REST AT 

http://www.economyincrisis.org/content/taxpayers-supported-company-ships-jobs-finland

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