U.S. to Inject $5 Billion into Green Jobs

30% tax credits to investors in factories working with targeted technologies

The government on Dec. 17 said it plans to pour five billion dollars into fostering jobs growth in green technologies and clean energy.

Vice President Joe Biden announced White House support for the program, which requires congressional approval and is part of the $787 billion economic recovery plan President Barack Obama launched in February.

The plans would offer 30% tax credits to investors in factories working with targeted technologies in the wind energy and solar energy sectors, as well as batteries, according to the White House.

"We have to jump-start growth in green manufacturing -- and part of that is encouraging companies to build the components of green technology right here on American soil," Biden said.

"By combining the most talented workforce, the most entrepreneurial businesses, the best universities in the world with seed capital from government investment, we can once again produce cutting-edge technology that creates 21st century jobs here in America," the vice president added.

Copyright Agence France-Presse, 2009

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