Brown Statement on USEC Announcement of Continued Progress on Loan Guarantee

Press Release

U.S. Sen. Sherrod Brown (D-OH) issued the following response in reaction to USEC's announcement of continued progress in securing a federal loan guarantee to support the American Centrifuge Project (ACP). The $2 billion U.S. Department of Energy (DOE) loan guarantee for USEC's American Centrifuge Project (ACP) would create 4,000 jobs.

"It's encouraging that USEC and the Department of Energy are making progress in laying the groundwork for a conditional loan guarantee. The American Centrifuge Project has the potential to put thousands of Ohioans to work. Along with other critical federal funds that are redeveloping the site for productive use, the ACP would be a powerhouse for revitalizing the regional economy."

USEC's application for a government loan guarantee would help build state of the art uranium enrichment technology at the former Department of Energy (DOE) Gaseous Diffusion Plant in Piketon. If successful, the ACP could bring as many as 4,000 construction jobs and 400 long-term, full time jobs to Piketon.

Brown is working closely with USEC and DOE to ensure facilitated coordination efforts for the American Centrifuge Project. At the end of last year, Brown urged the Obama Administration to move forward in approving the loan guarantee for the American Centrifuge Plant (ACP) and to fully fund cleanup at the former Gaseous Diffusion Plant. In February 2010, Brown worked with DOE to reach an agreement that resulted in DOE devoting $45 million in new funds to advance the ACP. In October 2010, Brown visited Piketon. A week later, DOE announced that efforts to secure a loan guarantee for USEC have taken a significant step forward, with the two parties operating under a framework for further discussions. In December, Brown called on the administration to fully fund the Piketon Cleanup.

A member of the Senate Appropriations Committee, Brown has led the fight in Congress to accelerate the Piketon cleanup and to create new jobs. He successfully secured an expedited timeframe for the cleanup, moving the completion date forward by more than 20 years. As a result of Brown and President Obama's efforts, Piketon received double the amount of clean up funding in 2009, including $118 million in cleanup funds through the American Recovery and Reinvestment Act of 2009. President Obama's FY 2011 budget request also includes nearly $500 million for the project. Federal funds for Piketon will have helped to create more than 275 jobs in the region.

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