General Motors Expected To Invest $800 Million In Michigan Operations2
General Motors will invest $800 million in its various development and manufacturing operations in Michigan as it looks to further the state tax credits it earns for keeping jobs in the state. The company announced it also consolidated certain engineering operations from outside Michigan to a site within the state, creating 1,750 jobs.
GM is in agreement with The Michigan Strategic Fund that increases the number of employees it can use to apply towards a tax credit from 33,000 to 34,750. The deal will increase the number of tax-credit paid jobs at the Warren Tech Center to 6,750 from 5,000.
Michigan came into agreement with GM in 2009 requiring it to keep at least 20,000 employees at its 17 facilities in the state to be eligible for tax credits. It was then revised to allow the company to retain 33,000 employees in Michigan.
The recent boost to 34,750 employees covered by tax credits will “provide further stabilization for General Motors in Michigan,” company officials said in a memo.
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Michigan needs it
Good news for Michigan.