In 2008, the residents of Simpson County were mesmerized with the idea of an electric car company building ZAP cars and employing thousands. As it turned out, GE Capital had intended to loan the project money until it was discovered that GE was short of money, too. So the project predictably died. In fact, the project lacked equity capital, the real green stuff possessed by real entrepreneurs with real venture capital.
So is an entrepreneur in Whitley County bellying up to the bar? Don’t hold your breath. According to “No Gas Required”, the State of Kentucky will provide $15 million in incentives if the company, Sirius Energies Corporation, comes up with $33 million. Hey, Corbinites, before you roll out the red carpet, check out the Sirius checkbook to see if it’s full of cobwebs, too. If you don’t, you’re likely to get ZAPPED!