TechNet Hails Administration Announcement of $2.3 Billion in Recovery Act Funds to Spur Clean Tech Manufacturing Jobs

WASHINGTON, Jan. 8 /PRNewswire-USNewswire/ -- TechNet, the bipartisan policy and political network of CEOs that promotes the growth of the innovation economy, today hailed the awarding of $2.3 billion in Recovery Act Advanced Energy Manufacturing Tax Credits that will move forward some new clean technology projects. With more than 180 projects in 43 states receiving award, the awards are expected to generate thousands of new manufacturing-related jobs nationwide.

"Energy prices are on the rise. The availability of fossil fuels cannot be guaranteed. And the environmental damage to a world powered by fossil fuels poses a real threat to international security," said Rey Ramsey, President and CEO of TechNet.

"For generations, our nation has risen to such challenges. Innovation is the foundation for our nation's global leadership -- it fuels economic growth and job creation for all of our people. Clean energy is our next great innovation," Ramsey continued. "The tax credits unveiled today, coupled with corresponding private sector investment, means $7.7 billion of new investment in American clean tech manufacturing. This is a significant step in helping the next generation of American innovation flourish. We applaud President Obama for recognizing the potential of clean energy and making the smart and strategic investments that will drive our nation's economy for the next generation."

About TechNet:

TechNet is the national, bipartisan network of CEOs that promotes the growth of technology industries and the economy by building long-term relationships between technology leaders and policymakers and by advocating a targeted policy agenda. Our members are the nation's drivers of innovation in the fields of information technology, e-commerce, clean technology, biotechnology, venture capital and investment banking - representing two million employees and $800 billion in revenues. TechNet has offices in Washington, DC, Palo Alto, Sacramento, Seattle, Boston, Austin, and Albany, NY. Web address: www.technet.org. You can also follow us on Twitter at Technetupdate@twitter.

SOURCE TechNet

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