Obama announced $2.3 billion in tax credits Friday for 183 ventures to build advanced batteries, wind turbines and other "clean energy technology" nationwide, including projects in the Bay Area.
The tax credits, which are funded by the $787 billion economic stimulus package enacted in February, are designed to defray up to 30 percent of the cost of new investments in manufacturing facilities to produce clean energy products.
"Building a robust clean energy sector is how we will create the jobs of the future - jobs that pay well and can't be outsourced," Obama said. "This initiative will give a much-needed boost to our manufacturing sector by building new plants or upgrading old ones."
The tax credits announcement dovetails with attempts by congressional Democrats to shift attention to the economy and focus on a multibillion-dollar job-creation package.
Environmentalists joined Democrats on Capitol Hill in cheering the announcements as much-needed assistance for the struggling manufacturing sector.
"Millions of new, clean energy jobs will be created over the next decade," said Rep. Edward Markey, D-Mass. "The question is, will they be created in China or Germany, or will we create them here in America?"
Sen. Jeff Bingaman, D-N.M., said the tax credits will help make the United States "a more attractive location for manufacturers of solar, wind and other green technologies."
U.S. to give $2.3 billion in clean-tech credits
The tax credits, which are funded by the $787 billion economic stimulus package enacted in February, are designed to defray up to 30 percent of the cost of new investments in manufacturing facilities to produce clean energy products.
"Building a robust clean energy sector is how we will create the jobs of the future - jobs that pay well and can't be outsourced," Obama said. "This initiative will give a much-needed boost to our manufacturing sector by building new plants or upgrading old ones."
The tax credits announcement dovetails with attempts by congressional Democrats to shift attention to the economy and focus on a multibillion-dollar job-creation package.
Environmentalists joined Democrats on Capitol Hill in cheering the announcements as much-needed assistance for the struggling manufacturing sector.
"Millions of new, clean energy jobs will be created over the next decade," said Rep. Edward Markey, D-Mass. "The question is, will they be created in China or Germany, or will we create them here in America?"
Sen. Jeff Bingaman, D-N.M., said the tax credits will help make the United States "a more attractive location for manufacturers of solar, wind and other green technologies."
U.S. to give $2.3 billion in clean-tech credits
