211711
KANSAN.COM / THE UNIVERSITY DAILY KANSAN / WEDNESDAY. JULY 14, 2010 / NEWS
another government program," Obama said. "Our goal has been to spur growth in the private sector."
The company designs and builds commercial electric vehicles that can haul more than 16,000s pounds over 100 miles using only one initial charge. Obama cited the company as one of several success stories of "promising, innovative businesses" across the country.
All the companies he cited as recovering government grants were all related in some way to renewable, sustainable energy, an industry Obama made clear was at the fore of his economic agenda.
"This nation leads the industries of the future," he said.
With the rise of Smith Electric and similar companies across the country, Obama said the United States could grow from producing just 2 percent of the world's advanced batteries for electric and hybrid cars to producing as much as 40 percent within the next five years.
"All these efforts, taken together, are making a difference," Obama said. "A year and a half ago, our economy was shrinking 6 percent a year. Now it's growing. The economy was bleeding jobs, now we've created private sector jobs for six consecutive months."
The slow progress gave the President an optimistic outlook for the future, even though it may not come tomorrow.
"We're not there. We've got a long way to go!" he said. "but we are moving in the right direction. The surest way out of the storm is to go forwards."
To see a photo gallery from President Obama's visit, check out kansan.com
Ryan Waggoner/KANSAN