MEDIA ADVISORY: Secretary of the Treasury Janet L. Yellen to Travel to North Carolina to Highlight How Inflation Reduction Act Drives Investment to Underserved Communities, Strengthens Energy Security

Media Advisory

Secretary of the Treasury Janet L. Yellen to Travel to North Carolina to Highlight How Inflation Reduction Act Drives Investment to Underserved Communities, Strengthens Energy Security

WASHINGTON – On Thursday, November 30, Secretary of the Treasury Janet L. Yellen will travel to North Carolina to tour Livent and Gaston College and deliver remarks on how President Biden’s Inflation Reduction Act – and the Administration’s Investing in America agenda – is spreading economic opportunity more broadly across the country and strengthening America’s energy security. Secretary Yellen will be joined at Livent by Governor Roy Cooper (D-N.C.).  

 

In her speech, Secretary Yellen will highlight how investments that have recently been announced in Inflation Reduction Act-related sectors of the economy, including clean vehicles, critical minerals, solar, and batteries are concentrated in underserved communities. These investments in the clean energy economy are disproportionately benefitting communities where opportunity exists but there is greater need of initial public investment to unlock private capital and create good-paying jobs – a key tenet of Modern Supply Side Economics. Secretary Yellen will also highlight how the Inflation Reduction Act’s incentives for critical mineral processing in the U.S. and partner countries are strengthening energy security by creating more capacity domestically and bolstering global supply chains with reliable partners. 

 

Prior to her remarks, Secretary Yellen will tour Livent, the country’s top producer of lithium hydroxide, a critical component in batteries. The uptake in electric vehicle adoption brought about by the Inflation Reduction Act and resulting demand has allowed Livent to more than double their capacity since the law passed. In addition to producing lithium hydroxide, Livent’s innovation team is creating cutting edge lithium products to produce smaller batteries that hold more power and provide more range. Livent currently obtains the lithium it processes primarily from Argentina and Canada, helping to build more resilient supply chains. 

 

Prior to the tour of Livent, Secretary Yellen will visit Gaston College, which offers specialized certificates in electrical systems technology for renewable energy and photovoltaic, providing workers with the skills they need to take advantage of the jobs being created by the Inflation Reduction Act, whether or not they have a four-year degree. Secretary Yellen will hear about Gaston College’s success in developing North Carolina’s clean energy workforce.

 

A livestream of Secretary Yellen’s remarks will be available here.   

 

Who: U.S. Secretary of the Treasury Janet L. Yellen, Governor Roy Cooper (D-N.C.). 

What: Tour and roundtable at Gaston College, Tour and remarks at Livent  

When: Thursday, November 30 

Tour of Livent to begin at 11:00AM, with remarks to begin at 11:30AM 

Tour of Gaston College to begin at 1:45PM, with roundtable to follow at 2:15PM 

Where: Bessemer City and Dallas, North Carolina 

Livent 

1115 Bessemer City-Kings Mountain Hwy 

Bessemer City, North Carolina 28016

Gaston College 

201 US-321 

Dallas, North Carolina 28034 

 

Media interested in covering this visit should RSVP to grady.thomson@treasury.gov by COB Wednesday, November 29. Media will be provided more detailed logistics information upon RSVP.

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