| Gordon: Nissan gets $1.4 billion loan |
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Posted: Thursday, January 28, 2010 1:05 pm
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Congressman Bart Gordon announced today that the Department of Energy has awarded a $1.4 billion loan to Nissan North America to expand production in its Smyrna plant.
The proceeds of the loan will be put toward the launch of a new battery manufacturing facility at the Smyrna site and accelerated production of the new all-electric Nissan LEAF. The project will create up to 10,000 new jobs in Tennessee.
“This investment will be an incredible boon to thousands of Tennesseans and their families, and it will cement our status as a leader in advanced manufacturing and green industry,” Gordon said. “This commitment to green job creation could not come at a better time for Tennessee or for our country.”
Nissan will use the funds to invest heavily in expansions to its Smyrna plant. The centerpiece of the new project will be the construction of a state -of-the-art battery manufacturing facility, which will produce 200,000 battery packs annually for use in the Nissan LEAF and other electric vehicles, as well as in other applications.
Nissan will hire 1,300 workers to launch the facility and accommodate accelerated production on the LEAF. According to Nissan’s filing with the Rutherford County Industrial Development Board, construction of the new battery plant and improvements to the existing infrastructure will also create 500 construction jobs over two years and 150-250 support jobs. The filing estimates the project will ultimately create an additional 8,000 jobs in the local service and supplier sectors, bringing the total as high as 10,000 new jobs in Tennessee.
Gordon joined U.S. Secretary of Energy Steven Chu in announcing the loan at the Washington, DC Auto Show, where the all-electric LEAF is being previewed before its launch in Tennessee and other select markets later this year.
“These are exactly the kinds of jobs that I have fought to bring to Tennessee: high-tech, high-paying and close to home. The impacts of this funding will be felt for years to come in Smyrna,” Gordon said. “This loan will put Tennessee on the front lines of an industry that is projected to grow exponentially in the coming decades as we shift toward a green energy economy.”
Gordon has championed investments in Tennessee’s industry and green jobs sector throughout his career in Congress. As Chairman of the House Committee on Science and Technology, Gordon has promoted legislation to increase investments in solar power production and energy innovation through the groundbreaking ARPA-E program, which is dedicated to high-risk, high-reward research to produce energy technology breakthroughs.
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