State might not be able to recoup funds awarded to GM
From The Associated Press:
It doesn't appear likely that Wisconsin will recoup most of the $10 million awarded to General Motors for worker training and other improvements at its Janesville plant.
State officials are still reviewing what can be done to get some of the money back, but all but about $700,000 has been handed out.
Contracts for $2 million in grants provided to The Associated Press under the open records law do not include any penalties for the plant closing.
The car company announced in June that it will close the plant by 2010.
It announced today that the closure will come sooner, but did not give a date. That news came as GM officials in Detroit said they will slash jobs, cut production, sell assets and suspend a dividend for the first time in 86 years, as the company tries to ride out a collapse of its core U.S. market.
In Janesville, the state provided $10 million in four separate grants since 2004 to help GM with a $175 million plant overhaul and worker training.
The largest grants, for worker training, came from the state Department of Commerce. Officials there are still seeing what can be done. Even if money can be recouped, it may take months or years.