Jeff Rent, public relations and media manager at the Mississippi Development Authority, confirmed in an email to Breitbart News on Monday that the Mississippi state agency responsible for economic development has disbursed $5 million in loan proceeds to theGreenTech Automotive electric vehicle manufacturing project in Tunica County, Mississippi.
"All of the $5 min [million] assistance has been disbursed," read Rent's brief email in reply to our earlier inquiry.
According to the terms of a 2011 Memorandum of Understanding, the State of Mississippi loaned $3 million of this $5 million directly to GreenTech Automotive, the company which Terry McAuliffe, now the Democratic nominee for governor in Virginia, served as chairman from 2010 to 2012. The state loaned the remaining $2 million directly to Tunica County, Mississippi, which used the proceeds to purchase the estimated 1,500 acre parcel of land on which the proposed GreenTech Automotive electric vehicle manufacturing plant will be located.
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How long before this green weenie company goes belly up?
ReplyDeleteWith the current improvements in batteries (iron phosphate technology) and supercapacitors that can deliver a charge in minutes, I see electric cars as a good investment for Ole' Miss. And, McAuliffe, IMHO, is a fool to leave the company for politics.., especially as a Dem, in the current environment.
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