This guy's story typifies what is wrong with U.S. economic policy on a host of fronts.
Noel Davis wants to make wind turbines in Indiana. He wants to open up a manufacturing plant.
Sounds good right? Manufacturing, green energy, domestic production....
So, why can't this guy get a loan? From Manufacture This:
Noel explains that, in addition to waiting for a loan guarantee from the Department of Energy, he must then get funding from investors. The irony is that, at a time when credit is tight, many investors are putting scarce resources into Chinese projects, not American.
See that? Investor herd mentality is emerging economies (and why China is classified as such is a great mystery). I wonder if they even bother to perform due diligence on the profit and market potential in U.S. business investments? Is it simply the stamp made in China enough for investors to pour billions overseas and ignore their own domestic economic turf?
Below is an interview on the Ed Show showing while banks can get money in a space of minutes, for a manufacturing start-up, it's delay, delay, denial, delay. And you wonder why the United States is hemorrhaging jobs, especially manufacturing jobs, contrary to this happy and fluff piece on the Huffington Post. Do we need a major U.S. manufacturing policy? Do we need to get guys like Noel Davis here some serious money and loans immediately? Hell yes! Notice how he's doing a straight up business. He's not asking for subsidies or grants or any damn thing. He's out to make a profit because he knows.....he can.