A joint announcement by Sen. Sherrod Brown and the head of the federally operated Ex-Im Bank reported that the bank will provide $455.7 million financing that will allow the First Solar Inc. plant near Toledo to produce solar panels for two solar projects in Ontario, Canada.
The paper said the 18-year government guaranteed loan will sustain jobs for 550 workers at the plant. It should be further noted that Fred Hochberg, Ex-Im Bank chairman, said such financing was needed through federal channels because without it the project could not obtain loans in the commercial lending marketplace.
There's a chance his Republican opponents will find a way to criticize Brown for the deal. They usually do if they aren't busy raising questions about global warming or damning the Feds.
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If banks in the private sector were not willing to make a loan for this project, doesn't that seem to indicate that maybe it isn't a worthwhile investment? Why do taxpayers always have to be on the hook for these green jobs bondoogles??? They usually turn out to be huge wastes of money that never produce the jobs their backers claim.
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