DEARBORN, Mich. (WXYZ) — U.S. Treasury Secretary Janet Yellen made a stop at the Ford Electric Vehicle Center in Dearborn on Thursday.
Yellen started the line at Ford Motor Company’s Rouge Electric Vehicle Center in Dearborn, before talking about how she believes President Joe Biden’s economic plan will help lower the cost of vehicles by funding the on-shoring of semiconductor chips needed in many devices, including electric cars that are part of the effort to fight climate change.
“Given the existential threat posed by climate change it is imperative that we address it,” said Janet Yellen, U.S. Secretary of the Treasury.
She challenged the fossil fuel industry, vowed to make our country less reliant on oil, and promoted how she says President Biden’s economic plan involves investing in programs that in the past have allowed businesses to open right here in Metro-Detroit. The federal government is increasing funding for programs like Motor City Match.
She called it a commitment to Modern Supply Side Economics, or a practice of funding innovation by individuals to help them overcome the barriers of inequality.
“This approach embraces the notion that some of the best opportunities for growth happen when we invest in communities and people that have been overlooked,” said Yellen.
“It Is so important to have a program like that because funding in Detroit is tough,” said Jeffrey Gisstennar, Owner of Good Cookies.
Gisstennar started the business in his home. Motor City Match grants gave him business support and funding to open up a brick-and-mortar store on McNichols in the North Rosa Park Area in 2020, creating jobs and growth. He says new federal investment will help others do the same.
His customers can taste the results.
“We give you a cookie that you bit in and you. Say ahh - I remember this from when I was a kid,” said Gisstennar.
You can learn more about Motor City Match at https://www.motorcitymatch.com.