The secret of his success: HOW DID TERRY MCAULIFFE BUY A CHINESE COMPANY AND MOVE IT BACK TO THE U.S.?
We’ve previously reported on the encouraging stories of manufacturing that is coming back to the U.S.
Today, we're introducing a new, weekly blog feature, ‘Shift Changes,’ that will keep you updated on positive developments in U.S. manufacturing. These includes both new plant openings and the really encouraging stories of firms that have decided to move operations back to the U.S. from China.
In order to keep a close watch on the U.S. manufacturing base, we'll also report some of the more gritty stories, including any major or unexpected plant closings that affect key industries.
For today's inaugural piece, we want to spotlight a particular interesting story-- the electric and hybrid car start-up GreenTech Auto.
Former Democratic National Committee (DNC) Chairman Terry McAuliffe has accomplished something unusual. As he explains, “I'm willing to take some big risks and I'm proud to say I've done what very few other businessmen have done. I've gone to China, bought a manufacturing company and moved it to America. Now China wants to buy back some of that new technology from me. That's a great story for America.”
McAuliffe says he decided to locate the first GreenTech Auto manufacturing plant in Mississippi because state and county officials offered a helpful incentives package. He also hopes to open another plant in the next 6-7 months that could potentially employ thousands of U.S. workers.
McAuliffe says he’s very worried about the U.S. economy, and the loss of good-paying manufacturing jobs:
"One-third of Americans have already been forced to change their lifestyle because their disposable income is gone. A guy can't go to the corner bar after a rough day at work to have a beer, that's gone to oil! We're borrowing from China, slapping an interest rate on it and shipping it to the Middle East -- that's not a good position for the United States of America."
McAuliffe believes that alternative energy offers an excellent are for development and job creation:
“Many of these jobs are skilled manufacturing jobs, the sector which has been hit hardest. You don't go to those people and tell them, 'now we're going to re-train you to work with computers'. They want to work with their hands. That's what they love to do! We could save entire communities by bringing just one electric car manufacturing plant to a town.”
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