Obama Allocates $2 billion To Build Solar Plants
Washington D.C. -
On Saturday, President Obama announced that new solar plants will receive almost $2 billion in funding and this will generate numerous jobs and augment the country's utilization of renewable sources of energy.
Obama revealed the financial backing in his weekly online and radio address, stating that it’s part of his scheme to attract new businesses to the United States.
The 2 companies that are eligible to receive funds from President Obama’s $862 billion economic revival package are Abound Solar Manufacturing, engaged to construct solar plants in Indiana and Colorado; and Abengoa Solar, which is to construct plants in Arizona, supposedly the largest in the world, generating 1,600 construction jobs.
The Obama administration states that those projects will generate and fill over 1,500 permanent job vacancies and 2,000 construction job vacancies.
Obama's announcement was made following the Labor Department statement that last month employers cut payrolls for the very first time in 6 months, compelled by the anticipated termination of 225,000 short-term census jobs. In the meantime, employment in the private-sector went up by 83,000 employees.
The jobless rate fell to 9.5 %.
Obama declared that while it could take a long time to restore all the employment opportunities lost during the downturn, the economy is progressing on a positive track. He partly blamed the Republicans for the sluggish pace of recovery, saying that GOP lawmakers are engaging in the old Washington exercises and availing of their power to keep this relief hostage.
President Obama has stated that to get the country's economy back on track, it was essential to amplify the nation's short term debt.
