OK, so you probably heard about it on every local news station. And you probably heard about it in the local paper. And you probably heard about it from the milkman... well, maybe not the milkman. But anyway, it's a big deal and a big step towards Michigan getting a foothold in something. Of course, we're talking about the $1.36 billion the Obama administration plans on sinking into Michigan's future.
Excerpt:
Michigan was established Wednesday as the epicenter of an Obama administration push to build systems that will power the cleaner autos of the future, with the state winning most of a $2.4-billion federal grant program.
The $1.36 billion heading to Michigan is to create up to 6,800 jobs in the next 18 months and up to 40,000 through 2020, and puts the state in position to compete with Asian manufacturers who have a stranglehold on making batteries for hybrids and electric cars.
For an economy suffering a multiyear slide, the grants are a key victory. Announced by President Barack Obama in Indiana and Vice President Joe Biden in Detroit, they are designed to establish a U.S. manufacturing base for electric vehicle batteries and motors.
"We're building a new platform for the American economy that will allow us to grow like we did in the '40s, '50s and '60s," Biden said.
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