News

Actions

Michigan House passes tax breaks for companies that add jobs

Posted at 1:43 PM, Jul 12, 2017
and last updated 2017-07-13 10:17:32-04

Qualified companies creating at least 250 jobs in Michigan would receive tax incentives under legislation approved in a crucial vote by the House.

The move clears the way for the "Good Jobs" program to win final Senate approval later Wednesday. Gov. Rick Snyder is pushing for passage of the tax breaks this summer as Michigan tries to lure Taiwanese electronics giant Foxconn to build a 5,000-employee plant in the state.

The main bill passed 71-35, with a mix of Republican and Democratic support.

The Republican governor and GOP-led Legislature shifted Michigan away from providing economic development tax incentives in favor of a smaller pot of grants and loans when he took office. But he's open to them now and says Michigan needs to compete with other states for large projects.