MILWAUKEE, Wis. (WTAQ) - A Milwaukee business group stands by its claim that 1,000 U.S. jobs would be lost if Bucyrus International loses a big contract with India.
The U.S. Export-Import Bank has rejected loan guarantees for a new coal-fired power plant in India, because the project goes against the Obama administration’s goals for clean energy. The decision would cancel a $600 million order for Bucyrus to provide mining equipment.
A bank official says the Metro Milwaukee Association of Commerce is exaggerating its claim that 1,000 jobs would be lost. He says the loss would be more like 350 to 400 jobs.
But the association’s Tim Sheehy says the bank’s estimate does not include hundreds of engineering and administrative jobs. He says the loss of the Bucyrus contract would cost 1,000 jobs in 13 states, and 326 jobs in Metro Milwaukee both at Bucyrus and its suppliers.
Local government and union leaders have asked the bank to reverse its rejection of the loan guarantees for the India project – and they’ll ask President Obama to get involved when he visits Racine Wednesday.