Loan Guarantee Would Protect Thousands Of Jobs, Reduce Emissions

Press Release

Congressman Zach Wamp joined more than a hundred U.S. Enrichment Corp. (USEC) employees to call upon the U.S. Department of Energy to further review the economic, energy and national security benefits of approving a loan guarantee for the American Centrifuge Plant being developed in Oak Ridge, Tenn.

"Granting this long overdue loan guarantee to USEC is the first step the Department of Energy could take to show its support for clean, safe nuclear power," said Congressman Zach Wamp. "For months, we have heard from the Secretary of Energy, both in private and public meetings, that nuclear power must be part of the U.S. energy strategy. The importance of adding this emission free generation capacity cannot be underestimated in family wage job creation, reducing pollution and as a strong engine for economic growth.

"This is exactly the type of innovative technology project that can help turn our economy around and create jobs. The American Centrifuge Plant being developed in Oak Ridge has already created 500 direct jobs and more than 1,000 supporting jobs in our area. Delaying or not granting a loan guarantee that was specifically designed to help companies develop next-generation technologies will have serious negative consequences for our national interest and the local economy."

"Nothing should get in the way of moving our country in a robust, pro-manufacturing, competitive direction for the creation of quality U.S. jobs. Prompt action by DOE will protect approximately 5,700 existing jobs and create 8,000 jobs in eleven states, reduce greenhouse gas emissions by 10 million tons annually and preserve U.S. capability to provide enriched uranium for our national security needs. I say to the administration, ‘Reverse course and do the right thing.'"

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