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April 13, 2011
Obama Creates 10-15 Full Time Jobs at $100,000,000 each
Speaking at the signing ceremony of California's Renewable Energy law, Secretary of Energy Steven Chu announced that the Department of Energy would guarantee $1.2 Billion in loans for a solar plant in California. The plant would employ 350 people during construction and about 10-15 full time during operation. Assuming the final number of new full time jobs is 12, that works out to $100,000,000 of taxpayer money per full time job. Sunpower Corporation owns the power plant and their Political Action Committee gave $15,650 to Democrats and $1,000 to Republicans during the 2010 election. Senator Harry Reid received $4,000 of the total. Reid was in a tough re-election bid at the time.See AT's earlier coverage of California's costly renewable energy law here.