Posted 5 years ago on Oct. 30, 2012, 1:14 p.m. EST by Dmooradian
This content is user submitted and not an official statement
Battery maker A123 Systems vowed thousands of new jobs when it received a nearly quarter-billion-dollar stimulus grant in late 2009, but federal job-tracking figures show only a few hundred positions were created before the company joined a growing list of federally backed energy businesses that ended in bankruptcy.
The latest quarterly report on file with a federal stimulus tracking database shows just seven positions created through the grant from April to June this year. Previous quarters' job reports contained anywhere from a handful of positions created to more than 100 new jobs.
But even when the quarterly reports are combined, a total of 408 new positions were reported under the stimulus program since 2009, amounting to more than $300,000 spent for each new job reported. .
The Massachusetts-based battery maker received a $249 million grant in December 2009 through President Obama's stimulus program, of which the company received about $129 million before it went bankrupt this month. Like all other recipients of stimulus loans or grants, A123 Systems was required to report job creation statistics to Recovery.gov.