Two Ohio federal lawmakers were in Toledo, Ohio, on Monday to tout the success of the 2009 federal stimulus and the auto bailout in rescuing a local business called American Manufacturing Inc.
The company, which makes steel containers for automotive parts suppliers, rebounded from nearly going out of business in 2009.
"This is a case of the government doing what we should do. This is an American success story," said U.S. Sen. Sherrod Brown (D., Ohio). In 2009, Mr. Brown cast the deciding vote in favor of the stimulus legislation, also known as the American Recovery Act, as well as voting in favor of the bailout of the auto industry that many believe helped stave off a collapse of the car manufacturing sector.
Chuck Gotberg, owner of the business on Dorr Street, said employment in his company plummeted from a peak of 125 to four during 2009. It is back to more than 100 workers and is hiring additional welders.
He said the auto bailout revived the demand for orders, and he said a 2010 guaranteed loan from the Small Business Administration allowed him to get financing to continue to grow.
The stimulus, or Recovery Act, lowered fees for SBA loans, increased the amount of the loan that could be guaranteed from 75 percent to 90 percent, and increased the dollar amount so more manufacturers would be able to benefit, officials said.
Joining Senator Brown at the steel fabricating plant was U.S. Rep. Marcy Kaptur (D., Toledo). Both are up for re-election and both point to the revival of the auto industry from the 2008-09 recession as the result of Democratic policies.
Senator Brown said 800,000 Ohioans are in jobs that are related to auto manufacturing.
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