Did State Get Burned By Evergreen Solar?

BOSTON (CBS) – How much money does Evergreen Solar owe the state?

It’s closing its manufacturing plant in Devens, just two years after Massachusetts gave it $58 million. 800 jobs will be cut.

Lisa van der Pool of the Boston Business Journal reports.

  • Jeff Kingston

    Go corporate America

    • Jeff Kingston

      These are the sleaze balls that have put this country on the slippery slope to becoming irrelevant. They should have all assets frozen until they pay back every single penny the state gave them with a 25% penalty.

  • Bruce Gabriel

    Trade with China is not “free trade” because China is not free: Don Trump Favors “25% Tax” on Chinese Goods http://alturl.com/dwn2c

    • jay

      If you buy Chinese products you are funding communism leading to the demise of capitalism at our own hands.

  • Jim

    I think the timing of this announcement being after the governor’s re-election should be looked at.

  • Marjorie Fellows

    Lesson #1– To All Levels of Gov’t– If you decide to help a business with a loan/bailout, make sure that it is in the contract that the monies are to be spent on keeping AMERICANS WORKING!!! Preferably on AMERICAN SOIL!!

    Lesson #2– Should the company renig, then they are now liable to repay TRIPLE, YES THAT IS THREE (3 X’S) THE AMOUNT LENT!!!

    Lesson #3–Everyone in the U.S.A. WE neeed to boycott Evergreen Solar. In fact all citizens of the U.S.A. need to boycott them even if you’re living abroad.

    Lesson #4–All Businesses that deal with them need to drop them. NOW!!!

    • jay

      WE neeed to boycott Evergreen Solar. In fact all citizens of the U.S.A. need to boycott them even if you’re living abroad.

      Here! Here! My feelings too!

  • cynic

    If I make a bad investment I take the loss,so should the State.

  • fred

    all these feel good green projects cost tax payers money, produce few jobs and never any wealth. this particullar industry is also a heavy polluter. they won’t have to worry about environmental regulations in China. nice investment govenor. just wait until the bill from cape wind comes due. we will pay a fortune for an insignificant amount of power just so we can feel good about the planet. what a bunch of morons. green jobs are a boondoggle. politicians with no business experience should not being wasting our money like this. even if this company stays how long would it take to recoup the 58m. the answer is not in my life time.

  • DStein

    I should’ve figured that the jobs for the “Green Economy” that Obama and DUHval were preaching to us about were for the Chinese and not us!

    To think that DUHval bragged about Evergreen Solar as one of his “job creating” success stories makes this an even bigger joke on those who voted this idiot in for another term.

    So far, when it comes to solar and wind power, the Chinese have benefitted the most when it comes to job creation. What is Obama doing about it??? NOTHING!!

  • http://boston.cbslocal.com/2011/01/18/investigation-requested-in-shutdown-of-evergreen-solar-inc/ Investigation Requested In Shutdown Of Evergreen Solar Inc. « CBS Boston – News, Sports, Weather, Traffic and Boston's Best

    […] scheduled a news conference at noon Tuesday after the Patrick administration had been pilloried in the news media for awarding the aid to Evergreen Solar Inc. before it shifted work to China and then said it was […]

  • Dan Smith

    It is above Evergreen Solar; I worked at a US based company that lost thousands of employees that were outsourced to “low cost regions”. This is happening all over the US and it is the general employee that takes the hit. Our government needs to start hitting US based companies hard if they outsource more then a set percentage of jobs to other countries.

  • Mike

    All of the these comments show how little most Americans understand global economics. Evergreen closed Devens b/c if they had not, the company would have gone into bankruptcy and all of those jobs would have been lost anyway. People would be better to direct their anger towards a US federal gov’t that allows such lopsided trade treaties between US and China. Give US companies a fair chance to compete before putting the blame on US companies who are doing everything they can just to remain competitive.

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