President Obama is directing $2 billion toward the development of new solar power plants, he announced in his radio address Saturday. Obama said the cash would help create thousands of jobs and will bring new industry to the United States. Two companies in particular will benefit from the funding: Abengoa Solar, an Arizona company and one of the biggest solar plants on Earth, and Abound Solar Manufacturing, which is seeking to build plants in Indiana and Colorado. The president said 2,000 construction jobs and 1,500 permanent jobs would be created as a result. A day earlier, the Labor Department announced a June unemployment rate of 9.5 percent. Obama said it would take years to get back all the jobs lost in the last couple years, but that, nevertheless, the economy is improving.
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