(Credit: AP Photo/Charles Rex Arbogast)
PIKETON, Ohio (AP) -- President Barack Obama's spending plan for 2013 seeks $150 million for research and development of a southern Ohio plant that would provide enriched uranium for generating electricity at nuclear power plants.
The funds for USEC's American Centrifuge Project in Piketon are part of the president's proposed $3.8 trillion spending proposal unveiled Monday.
President and CEO John Welch of the Bethesda, Md.-based USEC Inc. says budget inclusion is a "strong signal of support."
The program seeks to build and operate a commercial plant that USEC says will provide 2,000 jobs, mainly in Ohio, Pennsylvania, West Virginia, Alabama, Tennessee, Michigan and Indiana.
The new funds would be used to show technical and financial readiness to secure a loan guarantee from the Energy Department. Currently, interim funding runs through March.