Obama Announces New Tax Credits For Green Jobs


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New job figures are out and the results are not good. The economy continues to shed jobs, but critics of the administration who say that Obama is not doing enough about job creation should look toward his green jobs plans. On Friday, the Administration announced the award of $2.3 billion in tax credits for clean energy manufacturing.

Said Obama:

"Building a robust clean energy sector is how we will create the jobs of the future."

He's got that right. And to back it up, Treasure Secretary Geithner announced that tax credits would add another $5 billion of private capital investment in the clean energy manufacturing sector. The credits are part of the stimulus and are worth about 30 percent of the cost of each new project.

Some of the first recipients of the tax credits include Itron Inc. of Liberty Lake, Wash., to produce "smart meters" for home use, and TPI Composites Inc., to manufacture wind turbine blades in Nebraska.

TPI says the new plant will create about 200 new jobs. It's a start.

More on the Stimulus:
$60 Billion for Green in the Stimulus Bill: Where the Money Will Go
Stimulus Tax Credit Guide