Right Lane Cruiser
03-04-2009, 07:33 AM
http://www.cleanmpg.com/photos/data/2/AmericanFlag.jpg Lawmakers to boost tax credit budget to $535M, most in nation, to extend job-creating industry base. (detnews.com/apps/pbcs.dll/article?AID=/20090304/BIZ/903040347/1001)
http://www.cleanmpg.com/photos/data/501/A123_battery.jpgGary Heinlein - Detroit News (detnews.com) - Mar. 4, 2009
Michigan really needs this. --Ed.
LANSING -- State lawmakers plan to add $200 million in tax inducements to draw advanced battery technology firms to Michigan.
Refundable tax credits worth $335 million already are available through a bill signed into law by Gov. Jennifer Granholm in January.
Michigan's total of $535 million will be the nation's richest pot of money available to companies involved in all aspects of advanced battery technology, according to House Speaker Andy Dillon, D-Redford Township, and Senate Majority Leader Mike Bishop, R-Rochester, who said they're working together on the bipartisan proposal.
"These tax incentives will ensure that Michigan becomes a magnet for businesses in these emerging high-tech industries, creating high-paying jobs for Michigan workers now," Dillon said.
Advanced battery technology is crucial to the production of new electric vehicles, such as the Chevy Volt.
The tax-credit plan also could give Michigan a leg-up in competition among the states for federal stimulus money the administration of President Barack Obama will make available toward job-creating new technology, a Dillon spokesman said.
Tax credits would be spread over five years. Advanced battery technology firms that agree to use Michigan suppliers for their... http://www.detnews.com/apps/pbcs.dll/article?AID=/20090304/BIZ/903040347/1001
http://www.cleanmpg.com/photos/data/501/A123_battery.jpgGary Heinlein - Detroit News (detnews.com) - Mar. 4, 2009
Michigan really needs this. --Ed.
LANSING -- State lawmakers plan to add $200 million in tax inducements to draw advanced battery technology firms to Michigan.
Refundable tax credits worth $335 million already are available through a bill signed into law by Gov. Jennifer Granholm in January.
Michigan's total of $535 million will be the nation's richest pot of money available to companies involved in all aspects of advanced battery technology, according to House Speaker Andy Dillon, D-Redford Township, and Senate Majority Leader Mike Bishop, R-Rochester, who said they're working together on the bipartisan proposal.
"These tax incentives will ensure that Michigan becomes a magnet for businesses in these emerging high-tech industries, creating high-paying jobs for Michigan workers now," Dillon said.
Advanced battery technology is crucial to the production of new electric vehicles, such as the Chevy Volt.
The tax-credit plan also could give Michigan a leg-up in competition among the states for federal stimulus money the administration of President Barack Obama will make available toward job-creating new technology, a Dillon spokesman said.
Tax credits would be spread over five years. Advanced battery technology firms that agree to use Michigan suppliers for their... http://www.detnews.com/apps/pbcs.dll/article?AID=/20090304/BIZ/903040347/1001