Brown Proposal Aids Auto Suppliers to Change Focus

Mansfield News Journal

MANSFIELD — Small or mid-sized auto suppliers could apply to a federal revolving loan fund for money to retool to make parts for the clean energy industry, U.S. Sen. Sherrod Brown said Wednesday.

The Investments for Manufacturing Progress and Clean Technology (IMPACT) Act of 2009, which Brown is co-sponsoring, would provide $30 billion over two years.

States would establish revolving loan programs to help firms retool to make clean energy components or expand expand green operations they have already begun.

Companies with 500 or fewer employees could apply for loans to be repaid into the fund, making it self-sustaining, Brown said.

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