Public Policy for Business Leaders for Michigan will give a presentation on the Good Jobs for Michigan proposal, a business attraction program designed to compete with other states. There is a renewed focus on growing American jobs. States will be fighting more intensely than ever over these projects and Michigan has to be ready.
Under this proposal:
Business expansions or new locations that create a minimum of 500 new jobs and pay wages at 100% or more of the region’s average wage would be eligible to receive a 5 year, 50% abatement on the personal income tax withholdings of the new employees.
Business expansions or new locations that create a minimum of 250 new jobs and pay wages at 125% or more of the region’s average wage would be eligible to receive up to a 10 year, 100% abatement on the personal income tax withholdings of the new employees.
Up to 15 projects may be awarded per year with a maximum value for all projects of $250M annually.
Many of the states we compete with have business climates as good as Michigan’s and have stronger economic development tools than we have:
Michigan and Alaska are the only two states that have a corporate income tax and offer no tax credits.
Competing states, such as Georgia, Indiana, Kentucky, Ohio, South Carolina, Tennessee, Texas and Wisconsin offer up to seven times more incentives.
Michigan’s current cash incentives program is competitive only for small and medium-sized projects – averaging 133 jobs per project since January 2012 5 – but has no programs for larger projects like nearly all other states do.
This presentation will take place at 5:15, during the legislative reception.
Capitol Day and IEDC Marketing and Attraction Course Cutoff for Early Registration
MEDA will end early registration for Capitol Day on February 14th. Take a look at the agenda by clicking here.
Early registration for the IEDC Marketing and Attraction course will end on February 17th. We encourage all who intend to acquire CEcD certification to register as soon as possible! Take a look at the agenda by clicking here.