INDIANA
Indiana Economic Development Corporation
Please review the news report from CBS4 below to understand the conflicts of the public-private partnership within the IEDC and their board of directors, this will provide an oversight of upcoming articles educating the public on the IEDC and over $53,417,531 in grants and tax credits provided since it's inception.
VIDEO........
youtube.com/watch?v=P9lQ4e6l…
A series of articles will be generated by the ColbertReport team to further explain the connections between "Economic Development" initiatives occurring in Indiana and those benefiting from the public-private partnerships worldwide.
It's important to look at history.....the Indiana Chamber of Commerce morphed into the IEDC under the leadership of the Indiana Chamber of Commerce President, Brad Chambers and former Governor Mitch Daniels. This legacy continued through Governor Holcomb's tenure and currently into the Governor Braun administration.
The articles will attempt to provide context with the legislators knowingly or unknowingly facilitating unfettered free reign of the IEDC and the those running the organization.
It is a copious amount of information to be dissected and presented in layman's terms to Hoosiers. The IEDC has not been transparent and the recent independent audit conducted by FTI Consulting in Washington DC provides a warning is in order.
The future articles will present facts regarding the true story of the Data Centers, Solar Farms, Battery manufactures, the Indiana Utility Regulatory Commission, Small Modular Reactors, the involvement with Purdue University and the documented conflict of interests with the LLC owners filing documents with the Indiana Secretary of States Office.
Lets start with one of the first IEDC Public - Private Partnerships occurring in 2011. Be sure to "like", "Follow", and "share" the series of exposes on your X platform.
CHINA CONNECTION TO INDIANA 2011
The joint venture Zhejiang Wanxiang Ener1 Power System Co., Ltd. was established in 2011 as a partnership between U.S.-based Ener1, Inc. (parent of Indiana battery maker EnerDel) and China’s Wanxiang Group (via its Wanxiang Electric Vehicle Co. division)
prnewswire.comprnewswire.com. The JV was conceived during a period of strong U.S.–China collaboration on electric vehicles: its signing coincided with Chinese President Hu Jintao’s 2011 state visit and Obama-era bilateral initiatives promoting EVs and grid
storageprnewswire.com. Indiana’s state leadership played matchmaker – Governor Mitch Daniels and the Indiana Economic Development Corp. (IEDC) helped bring EnerDel and Wanxiang together and hosted a China–Indiana business symposium in Indianapolis for the
announcementprnewswire.com. As Governor Daniels remarked, “we’re very proud to have played a role in bringing these two companies together”, highlighting the JV as one of many “fruitful partnerships” between Indiana and
Chinaprnewswire.com.
Ener1/EnerDel’s contributions: Ener1 (via its Indianapolis-based battery subsidiary EnerDel) held a 40% stake in the venture and provided its advanced lithium-ion battery technology, engineering expertise, and intellectual
propertyprnewswire.com. EnerDel was a recipient of major U.S. Department of Energy grants to expand battery manufacturing, and the JV was seen as a way to rapidly access China’s burgeoning EV
marketprnewswire.comprnewswi….
Ener1’s CEO Charles Gassenheimer noted the partnership would “apply our advanced battery technology” and leverage Wanxiang’s facilities to hit the ground running in “potentially the largest advanced battery market in the world”
prnewswire.com. Notably, Ener1 encountered financial turmoil soon after; in January 2012 the company filed for Chapter 11 bankruptcy (just a year after the JV launch)
cdn2.hubspot.net. David Roberts – who joined EnerDel in early 2011 as IP counsel – became CEO during the 2012 restructuring and helped the firm survive its
difficultiescdn2.hubspot.net…. Roberts also represented EnerDel on the JV’s board of directors in 2012–2014, providing legal and strategic
oversightwestgatecrane.orgin…. (Ener1 emerged from bankruptcy under new ownership, and EnerDel continued operations, though its active involvement in the Chinese JV diminished post-restructuring.)
As we present the information, there is a definite pattern of the variety of LLC's being created, funded, then quickly filing bankruptcy. Be sure to follow
@KColbertReport as the saga of the IEDC unfolds.
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