Under Schwarzenegger, Solyndra Cashed In

Federal taxpayers weren't the only ones working overtime to help failed company Solyndra: the Fremont-based solar panel manufacturer also received $34 million in state tax breaks

By Chris Roberts
|  Tuesday, Sep 20, 2011  |  Updated 10:52 AM PDT
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Under Schwarzenegger, Solyndra Cashed In

Charles Ommanney/Getty Images

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The Guvernator was good to Solyndra.

Under the adminstration of Gov. Arnold Schwarzenegger, the Fremont-based solar panel manufacturer -- which declared bankruptcy earlier this month following an injection of $527 million in federal loans -- also received a $34.5 million state tax break in November 2010, the biggest of its kind, according to the Bay Citizen.

The money came from a program in which California firms involved in alternative energy received subsidies. It was the biggest subsidy handed out under the Schwarzenegger scheme.

The tax break was in the works even before Solyndra's buildings were constructed. Schwarzenegger touted the firm and the subidies at the firm's September 2009 groundbreaking, the Web site reported.

The firm was the first to receive the tax break. $100 million in all has been refunded to California companies under the tax break, the Web site reported.

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