SUBJECT: Statement of Governor Jim Douglas on Plasan North America of Bennington Contract Award

Statement of Governor Jim Douglas on Plasan North America of Bennington Contract Award:

“I would like to extend congratulations to Plasan North America for being part of the winning contract team with Oshkosh Corporation for a $1 billion order of armored vehicles for the U.S. military.

“In 2006, I was pleased to personally welcome Plasan to Vermont after our economic development team helped recruit them to the Bennington area. Without the Vermont Economic Progress Council’s decision to approve Plasan for tax credits totaling more than $1 million, the company may have located elsewhere. The granting of $1.16 million loan and a further guarantee of $500,000 line of credit by the Vermont Economic Development Authority, or VEDA, also helped secure Plasan’s commitment to Vermont.

“Recruiting this kind of good-paying, high technology manufacturing company is a key component of my economic development strategy, and this contract will be a tremendous benefit to Plasan and the Bennington area. This really demonstrates the effectiveness of our job creation incentive programs. While we obviously don’t have the resources other larger states do, we can compete for companies like Plasan if we have the tools.”

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