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Vice President Biden Announces New Life for Shuttered Former General Motors Plant in Wilmington

October 27, 2009 2:11 PM

TraversABC News' Karen Travers reports:


Vice President Joe Biden traveled to his home state of Delaware today to join an announcement that a former General Motors assembly plant in Wilmington will be back up and running producing environmentally friendly vehicles.

Fisker Automotive, a luxury automaker based in California, announced it will produce plug-in, electric hybrid vehicles at the shuttered GM plant.

Biden told an enthusiastic crowd that the United States can once again be a global leader in the automotive industry.

"I refuse to believe that we will not once again lead the entire world in the manufacturing of automobiles," Biden told the audience of more than 1,000 including union workers that the vice president singled out in his remarks. "This factory in Delaware, and the industry, are going to get back up off the mat."

Fisker bought the Wilmington plant for $18 million and will spend $175 million will be spent to refurbish it over the next three years.   It received a conditional loan of $528.7 million from the Department of Energy in September to develop the plug in cars. Production is scheduled to begin in late 2012.

The Wilmington plant will support "Project Nina," Fisker's development and construction of a plug-in hybrid sedan that would cost around $39,000 after federal tax credits.

The automotive company predicts that by 2014, the development project will create or support 2000 factory jobs and another 3000 vendor and supplier jobs.

 "This is proof positive that our efforts to create new jobs, invest in a clean energy economy and reduce carbon pollution are working," said Energy Secretary Steven Chu in a statement. "We are putting Americans back to work and reigniting a new Industrial Revolution that is paramount for the economic success of this country."

The Wilmington Assembly plant was built in 1946 and owned by General Motors until this year. At one point it employed more than 5,000 workers but this year it shut down production with just 450 hourly workers.

-Karen Travers

October 27, 2009 | Permalink | Share | User Comments (33)

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When polls are used to disparage a standing politician, it's worthwhile to provide some context by using comparison - in this case - a comparison with the last administration.

Posted by: julieterra | Oct 28, 2009 3:13:06 PM

When you come up with Cheney's polling numbers after 10 months into the first four years, get back to me. Otherwise, your comparison is invalid and your context is worthless.

Posted by: Visualize Whirled Peas | Oct 28, 2009 4:34:39 PM

I'm pretty sure Cheney sunk to below 19% - long way for Biden to go.
Posted by: julieterra | Oct 27, 2009 11:56:09 PM

What is the point of gaging a VP's performance against 19%? So you're saying it's a good thing until he hits 19%? What kind of logic is that?
___________________________________

When polls are used to disparage a standing politician, it's worthwhile to provide some context by using comparison - in this case - a comparison with the last administration.

Posted by: julieterra | Oct 28, 2009 3:13:06 PM

I'm pretty sure Cheney sunk to below 19% - long way for Biden to go.
Posted by: julieterra | Oct 27, 2009 11:56:09 PM

What is the point of gaging a VP's performance against 19%? So you're saying it's a good thing until he hits 19%? What kind of logic is that?

Or is it just another chance to compare the current administration to the previous?

Posted by: Visualize Whirled Peas | Oct 28, 2009 12:07:41 PM

This sounds like money well spent if you can say that with government spending money. I hope it works out the way they plan as far as created jobs go.

This is NOT good news for entitlement seekers, such as the poor folks in Philadelphia who are having trouble getting stimulus money. Hopefully they can hang on a little longer - say, mid-2010 when the Stimulus money really starts to flow to buy votes for the mid-term elections.

Posted by: Visualize Whirled Peas | Oct 28, 2009 12:03:58 PM

All comments not related to the GM plant should be removed and posted to the correct forum.

Posted by: OldSailor | Oct 28, 2009 12:57:10 AM

Biden + Delaware + Pork Barrel
Not a coincidence that the Delaware plant was the one our tax dollars are funding. I guess there was no Chicago plant available. Of course being a "green" technology there will be no Senate hearing. While electric cars seem "green", what is the net energy savings when power is generated to produce the electricity to charge the batteries?

Posted by: OldSailor | Oct 28, 2009 12:55:47 AM

I'm pretty sure Cheney sunk to below 19% - long way for Biden to go.

Posted by: julieterra | Oct 27, 2009 11:56:09 PM

"Vice President Joe Biden's favorability numbers have reached their lowest since before the 2008 presidential election, according to a new Gallup poll.

"The vice president's approval rating has been on the decline since November, when it peaked at almost 60 percent. But Gallup's latest measure now pegs that rating at only 42 percent -- a six point drop since July of this year. Additionally, about 40 percent of surveyed voters even said they had an unfavorable view of the vice president -- an increase of about four points over the last four months."

Posted by: Fascist Hyena | Oct 27, 2009 10:15:56 PM

"Obama is committed to winning the war but not without finding out if we have the afghanistan people supporting us for our efforts. "

Obama said it was a war of necessity. Are you saying that if the Afghan people don't support us, the war is off? Think about it.

Posted by: Sigmonde | Oct 27, 2009 7:45:27 PM

"If Fisker fails to make a profit, what then?"

Posted by: Sigmonde | Oct 27, 2009 4:04:07 PM
____________________________________

Read the terms of the loan.

Posted by: julieterra | Oct 27, 2009 6:39:38 PM

"If Fisker fails to make a profit, what then?"

Posted by: Sigmonde | Oct 27, 2009 4:04:07 PM

Simple: replace the board of directors with Obama/Daley Chicago cronies, and pump in more taxpayer money.

Posted by: Obamatopia | Oct 27, 2009 5:33:56 PM

Obamatopia: Obama is committed to winning the war but not without finding out if we have the afghanistan people supporting us for our efforts. The Bush administration sent 8,000 troops to Afghanistan and forgot about them. They did not answer requests for over a year and when they did they did not support them in any other way...no supplies, faulty equipment, and then went on to Iraq where they also sent faulty equipment where soldiers had to do migshift repairs to what they had. Obama will not do this. When he makes the commitment, money, supplies and a plan will follow.

Posted by: talmag | Oct 27, 2009 5:33:17 PM

"If Fisker fails to make a profit, what then?"

Posted by: Sigmonde | Oct 27, 2009 4:04:07 PM

Then give them more taxpayer money, and appoint Obama cronies to their board of directors. That's the Chicago way.

Posted by: Obamatopia | Oct 27, 2009 5:28:24 PM

Fisker has some interesting information at its website.

Posted by: MayBee | Oct 27, 2009 4:57:13 PM

"Money is disbursed in small amounts only if the company successfully reaches these milestones -- The funds will be repaid, with interest, to the American taxpayer."

How does that work? I mean, how do the taxpayers receive the money back, and with interest? Do we get a tax refund check? Please explain. Thanks.
____________________________________

You've heard of loans right? I'm sure you'll figure it out.

Posted by: julieterra | Oct 27, 2009 4:49:43 PM

"Money is disbursed in small amounts only if the company successfully reaches these milestones -- The funds will be repaid, with interest, to the American taxpayer."

How does that work? I mean, how do the taxpayers receive the money back, and with interest? Do we get a tax refund check? Please explain. Thanks.

Posted by: Sigmonde | Oct 27, 2009 4:09:34 PM

"Money is disbursed in small amounts only if the company successfully reaches these milestones -- The funds will be repaid, with interest, to the American taxpayer."

How does that work? I mean, how do the taxpayers receive the money back, and with interest? Do we get a tax refund check? Please explain. Thanks.

Posted by: Sigmonde | Oct 27, 2009 4:09:14 PM

"Contrary to what republicans like to pretend, smart business is ready to invest."

If Fisker Auto is such a great concept and "smart", why is there no public stock offering for investors instead of a giant taxpayer loan? If Fisker fails to make a profit, what then?

Posted by: Sigmonde | Oct 27, 2009 4:04:07 PM

but as the dollar drops
Posted by: jhw539 | Oct 27, 2009 2:39:25 PM

You got that right, Soros is selling Dollars like crazy.

Posted by: Lizzie | Oct 27, 2009 3:57:15 PM

"I wonder if Fisker will have his salary capped"
_____________________________________

Fisker wasn't bailed out.

In order to receive the funds Fisker Automotive must meet very specific milestones. Money is disbursed in small amounts only if the company successfully reaches these milestones -- The funds will be repaid, with interest, to the American taxpayer.

Posted by: julieterra | Oct 27, 2009 3:53:02 PM

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