This post on the GreenRightNow.com Web site says the Energy Composites Corp. (ECC) facility in Wisconsin Rapids got some help in the form of $238 million in municipal tax-free bonds from a pool of money created with federal stimulus dollars:
“Tax-free bonds are a critical component of our financing plan for the 535,000 square foot plant,” noted Sam Fairchild, Energy Composites’ CEO, in a statement. “Development costs for our new factory are too large for traditional Industrial Development financing programs, and the Recovery Zone Bond program, which expires at the end of 2010, is precisely the right solution at precisely the right time…
The 535,000 s.f. plant will be capable of making wind blades 65 meters in length that can supply both onshore and offshore wind farms, and will be build with “a maximum range of flexibility in production design” to be able to accomodate technological advances. The facility will partner with Mid-state Technical College, where prospective employees can get training in blade fabrication.
So at a time when we hear about how too many of the stimulus bucks are going overseas and stimulating economies overseas, it’s nice to hear about some of the money staying home and helping here.