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Could Federal Stimulus Money Resurrect Plans For Century Car Plant?
March 12, 2009
Escambia County’s top 22 project list for federal stimulus dollars includes millions that might resurrect plans for an electric car manufacturing facility in Century.
The county is seeking $20 million in federal funding for a “renewable energy electric car” at number 15 on their 22 items wish list.
The $20 million would be used to “support renewable energy transportation needs, provide economic stimulus, and reduce carbon emissions. This will support economic development for the southeastern United States by establishing and promoting incentives to companies that develop measures to reduce dependence on foreign oil and limit and combat climate change,” according to the county’s proposal.
Larry Newsom, who worked to develop the list for the county, said that the money could go toward LHS EV locating in Century. LHS EV is company that planned to build an electric car in Century until the state denied a $2.5 million grant from the state’s Renewable Energy and Energy-Efficiency Technologies program. At that point, the company announced that Century and Escambia County were no longer being considered for the plant.
“Maybe the feds will come through for us,” Newsom said. “The money could be used for LHS EV to still locate in Century. But I can’t speak for them; I don’t know if they would or not.”
If it is not used to lure LHS EV or another similar company to Escambia County, it could still be used for other projects that would alleviate some of Escambia County’s traffic problems that ultimately impact the environment, he said.
The county’s wish list to be presented to our federal legislators states that the $20 million would create 1,100 jobs in the county — the exact number that LHS had said that their electric car plant would bring to Century.
The grant, Newsom said, is not directly tied to LHS EV or Century.
LHS EV had promised about 200 jobs would have come with the plant to Century, and they said total employment could reach as high as 1,100. Escambia County helped LHS EV apply for the $2.5 million grant, and the county passed a resolution offering $39,000 in tax incentives to the company. But the state turned down the application in late February.
Patel said that LHS EV needed the $2.5 million to get $34 million in financing for Project Green Leaf. Nash and his brother Jay Patel said they had the $34 million secured in a line of credit, but they refused many media requests to name the bank that would provide the financing.
“The Patels’ concern was how money they would have to put up on the front end,” Newsom said. “The $2.5 million would have got the plant built, put people to work and got the ball rolling. They would have generated revenue before they had to put up their own money. I thought it was a very smart strategy; they would have been looking at only about a year to get a return on their investment.”
An exact timetable to decisions to be made the county’s stimulus list is not known.
Attempts to reach Jay and Nash Patel, co-owners of LHS EV, were unsuccessful late Wednesday afternoon.
Comments
7 Responses to “Could Federal Stimulus Money Resurrect Plans For Century Car Plant?”
Does this Newsom have a clue? He has to smoking something to think the golf cart jeep will make a market impact.
I agree with you JB we need to look to the future and see if we can put something in the area that will help. Solar energy would be a great thing to bring to our area and would actually do some good. Solar water heaters save so much money and are not that hard to produce. That is a resource that we as residents of the south could really get on the bandwagon about. We have the energy right before us and we are not using it at all. Our elected officials need to look into these programs not an oversized golf cart. Do something productive for a change and look ahead to the future of our childern and grandchildern.
The catfish plant was a better idea than this so called electric car “venture.” At least we know folks will eat catfish.
Come on Escambia county, come on Century. If these guys have a history of tax evasion. They will not let you see their line of credit nor, a strategic business plan. If they wanted to be open and work with you they would provide this to you. The electric cars described in earlier articles really have no market anywhere they are not practical. They appear to be little more than overgrown golf carts. The economy is down and no one is buying. You can buy the smart car or other variants and have more reliable transportation.
Did anyone go, or is anyone going to go to Washington and try to find stimulus money or to see where Century and or Escambia county can find the programs to work to in order to create jobs?
Why not try to lure a solar power manufacturer to the area. A small wind turbine enterprise, there are a lot of different green technologies to look at. What are the future small industries going to be?
It is clear industry in Escambia county is in decline. If the local officals continue to let the tourism industry drive the economy the local industrial base will continue to decline. So new stratagies and industry profiles should be sought and brought to the area.
Now is the time to act and continue searching and working to bring money to the area.
We are talking about our tax money going to this plan to start the electric car plant again. The idea of our tax money going for this is stupid point blank. It will never make money and they will need more money to pour down the rat hole after they rip off the first few millons. If anyone looked at the prototype of this car and really liked what they saw please tell me . It looked like a death trap to start with and it was ugly as homemade sin. This is going to be a flat out big mistake. I will start a business if the county will put up the money and get me a grant. Keeping it open and paying a few workers for a few years while I rat hole away the most of the money for myself. This is what will happen with the electric car company. But our elected officials don’t seem to mind spending our tax dollars for nothing. I have talked to lots of people about this and have not found anyone in favor of it yet . Except the one who hope to gain from this venture while the taxpayers pay from it.
Mr. Greatful: Great post, SCAM is all it is!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Regardless of the final outcome of this business “venture” I am sincerely convinced that Century is tying its hopes to the Titanic with this dream or should it be classified as a money grab for the three “investors.” Review all of the negatives with this venture as experience, product, marketability, economic environment, etc. and it all adds up to a governmental scam. The blind can keep hoping.