What’s the best way to create jobs?
In Michigan and across the U.S., many Democrats and Republicans may have come to an agreement: Give corporations money to grow their capacity, innovate and hire more people.
At the national level, Democrats passed the Inflation Reduction Act and the CHIPS and Science Act — both of which use tax credits to get companies to invest more in developing green technology and manufacture microchips.
Corporate incentives are also a big plank of Gov. Gretchen Whitmer’s policy agenda and the Democratic majority in Lansing.
In 2021, Whitmer signed a bipartisan bill funneling $1 billion of state funds to attract large business projects. A year later the Michigan Legislature launched the Strategic Outreach And Attraction Reserve Fund, allocating $1 billion in spending, mostly to fund business incentives. This year, the Michigan Strategic Fund approved $1 billion to support Ford’s $3.5 billion…
