Posted by Michael Swickard on Monday, September 30, 2013
McAuliffe, moved in, posed for a picture with me, and told me that I’d like his new green car project because it was being fully funded through private money. I looked askance at him, and told him that if that was really true, I’d be interested in hearing about it. He assured me it was and then, quickly slipped off to someone more receptive.
Apparently the “private money” was pure politicking. The MyCar a “neighborhood electric vehicle” with a 25-mile range and a top speed of 35 mph that Car and Driver reported: “isn’t a real car” may have private funding that’sscandalously acquired, but it also depends on millions in government assistance, tax exceptions, and rebates. The Washington Post says McAuliffe’s GreenTech Automotive “fits into a pattern of investments in which McAuliffe has used government programs, political connections and access to wealthy investors of both parties in pursuit of big profits for himself.”
To build the MyCar, MacAuliffe was able to get loans and land donations from the state of Mississippi the poorest state in the US. Where did the “poorest state” find this kind of cash to build cars? the Mississippi Development Authority’s Energy Division received approximately $40 million from the 2009 Stimulus Bill that was designated for “stimulating the creation or increased retention of jobs” and “reducing greenhouse gas (GHG) emissions.” GreenTech’s MyCar fit the requirements.
You might be wondering, if McAuliffe is running for Governor in Virginia, why is he setting up his car manufacturing business in Mississippi? One answer is, the decision makers in the Virginia Economic Development Partnership (VEDP) saw through the scam and didn’t bid on the project. Read full column