The GreenTech manufacturing facility, announced with great fanfare in 2009 after McAuliffe fell short in an earlier bid to be Virginia’s governor, never lived up to the promises it made as a condition of receiving public funding, said Mississippi State Auditor Stacey Pickering.
Pickering, a Republican, said last week that the company should repay money to the state and issued the report Thursday to back that up. His demand was first reported by the Richmond Times-Dispatch.
In Thursday’s report, Pickering said the company missed a number of targets. It defaulted on its loan agreement, making only one payment, and invested $43 million after promising to invest $60 million. The auditor said he determined that the electric car plant, built in one of the poorest counties in Mississippi, at its peak created 94 new, active, full-time jobs — but had promised to create 350.