Peoria's Reaction to Firefly Closing

By WEEK Producer

July 15, 2010 Updated Mar 12, 2010 at 11:39 PM CDT

Peoria City and County guaranteed a $6 million loan to Firefly Energy, Inc. in 2007 in hopes of successfully bringing high-tech jobs to Central Illinois.

After receiving Friday's announcement that the battery company is closing, officials sent out a response saying they are, "determined to exercise their full legal rights to protect the interest of the tax payers of the City and County of Peoria."

It is predicted that the county and city governments will try to pledge collateral and Firefly Energy's assets to reduce any loss.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.