Manufacturing Savvy

Looking for $5.9 Billion in Government Funding to Expand in US?

March 22, 2013

As part of the Department of Energy’s Advanced Technology Vehicle Manufacturing Loan Program, the government has $25 billion to hand out. Previous awards have ranged from $50 million to $5.9 billion. The program provides loans to auto OEMs and parts manufacturers for the cost of re-equipping, expanding, or establishing manufacturing facilities in the United States to produce advanced technology vehicles or qualified components, and for associated engineering integration costs.

Adrienne Selko Blog

As part of the Department of Energy’s Advanced Technology Vehicle Manufacturing Loan Program, the government has $25 billion to hand out.

Previous awards have ranged from $50 million to $5.9 billion.

The program provides loans to auto OEMs and parts manufacturers for the cost of re-equipping, expanding, or establishing manufacturing facilities in the United States to produce advanced technology vehicles or qualified components, and for associated engineering integration costs.

The project must be conducted in the U.S. as well as sold in the U.S.

The agency currently has funded $34.5 billion projects that have resulted in 60,000 jobs.

Some companies that have received funding include:

The Vehicle Production Group	Mishawaka, Ind.	$50 million	900 jobs
Fisker Automotivive	Wilmington, Del.	$529 million	2,000 jobs
Nissan Automotive	Smyrna, Tenn.	$1.5 billion	1,300 jobs
Telsa Motors	Freemont, Calif.	$465 million	1,500 jobs

About the Author

Adrienne Selko Blog | Senior Editor

Focus: Expansion Management & the Biotech & Life Sciences Industries

Email: [email protected]

Follow Adrienne on Twitter: @ASelkoIW

Call: 216-931-9235

Senior Editor Adrienne Selko manages IndustryWeek’s Expansion Management, delivering ideas and information about how successful manufacturers leverage location to gain competitive advantage. She explores the strategies behind why companies located their headquarters, research institutes, factories, warehouse and distribution centers and other facilities where they did, and how they benefit from the decision.

Adrienne is also the editorial coordinator of the IndustryWeek Expansion Management Roundtable events, which unites economic development professionals to network and discuss the latest trends in site location.

As well, Adrienne tells the stories of successful companies in the biotechnology and life sciences industries.

In the past, Adrienne has managed IndustryWeek’s award-winning website, overseeing eNewletters, webinars, and contributed content. Before joining the staff, Adrienne was managing editor of corporate publications at a large regional financial institution. She also ran a public relations and marketing company that published a best-selling healthcare book.

Adrienne received a bachelor’s of business administration from the University of Michigan and is especially interested in wellness and natural health.