Spain Stimulus Swindle
When is Congress going to start putting some strings on the “green” tax credits they give out?
In Groton, New Hampshire a massive wind farm deal has just been approved that will cost over $100 million, $34 million coming from New Hampshire and American taxpayers in the form of tax credits and incentives. Whether you agree with the “green” tax credit or not at least you think they will be creating a few construction jobs in an industry that is really struggling. It turns out that isn’t even the case. Iberdrola Renewables—a Spain based major wind power player—is behind the Groton, NH wind farm, but interestingly they also own a Spain based construction company—Iberdrola Engineering and Construction. Guess who is rumored to be doing the building of the $100 million wind farm—that’s right it is Iberdrola Construction.
So thank you American taxpayer, you just spent $34 million dollars to help the construction industry in Spain.