Obama To Discuss Jobs At Company Shifting Focus To China ? Daily Caller
President Barack Obama will visit the North Carolina-based Cree LED Light Company Monday to tour the plant and meet with his Council on Jobs and Competitiveness to discuss job creation and policies to spur economic growth.
But Cree, a major recipient of Recovery Act funds, may be sending that money straight to China. At the very least, its CEO, Chuck Swoboda, has a very China-centered strategy that involves building a new plant overseas, two facts that the Republican National Committee plans to highlight Monday morning prior to the president?s visit.
Cree received a $39 million as an Advanced Energy Manufacturing Tax Credit from the Recovery Act.
The company began developing clean energy technology, hired a few more hundred workers, and the administration touted it as a ?true American success story? on the White House Web site.
Then in late 2010, the company opened its first plant in Huizhou City,China. That made Cree the first global LED company to locate a manufacturing plant in China.
But that plant is only beginning of an expansion in China, says Swoboda. At the opening of the plant, Swoboda boasted that more than 50 percent of Cree?s employees live and work in China.
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