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Michigan Passes $1 Billion Tax Incentive to Lure $2.5B GM Plant

Dec. 15, 2021, 1:55 PM

The Michigan Legislature passed bills on Tuesday overhauling the state’s tax incentives for big businesses, creating a $1 billion pot for land development by big job-creators. The immediate aim: landing a $2.5 billion General Motors battery plant in Lansing.

The bills (S.B. 85, S.B. 769, S.B. 770 and S.B. 771) collectively create a Legislature-controlled Strategic Outreach and Attraction Reserve Fund into which lawmakers could dump part of Michigan’s budget surplus for grants and other incentives for large commercial development projects.

Passage came ...