TechNet Commends $2.3 Billion Award in Recovery Act Funds for Promoting Clean Technology Projects

TechNet acclaimed the awarding of $2.3 billion in Recovery Act Advanced Energy Manufacturing Tax Credits that will help in promoting a few new clean technology projects. TechNet is the bipartisan policy and political network of CEO’s that is involved in strengthening the growth of the innovation economy. Awards were received by more than 180 projects spread over 43 states and these awards are expected to generate thousands of fresh manufacturing jobs throughout the nation.

Rey Ramsey, CEO and President of TechNet, commented on the increasing energy prices and the diminishing availability of fossil fuels. Ramsey remarked that the international security is threatened as a result of the environmental damage caused to the world that is powered by fossil fuels.

Ramsey further remarked that the country is capable of meeting many such challenges and the country’s global leadership is based on its foundation of innovation, which boosts economic growth and creates jobs for the people. The country’s next innovation is clean energy. American clean tech manufacturing sector has received a new investment of $7.7 billion due to tax credits along with a corresponding private sector investment. This new investment will strengthen the future generation of American innovation. Ramsey stated that TechNet acclaims President Obama for recognizing the potentialities of clean energy and executing beneficial strategic investments that will increase the nation’s economy for the future generation.