Committee Reports “Good Jobs for Michigan” Package

Liz Gullett

Mar 24, 2017

On Thursday, the Senate Economic Development Committee reported a bipartisan three-bill package aimed at attracting new and expanded business investments in the state, providing high-wage jobs. Under the legislation, business expansions or new locations creating at least five hundred qualified new jobs that pay the prosperity region average wage or higher would be eligible to receive up to a five-year, 50% abatement on the personal income tax withholdings of the new employees. Companies creating at least two hundred and fifty qualified new jobs paying wages at 125% or more of the prosperity region average wage would be eligible to receive up to a ten-year, 100% abatement. The incentive program is limited to fifteen new projects per year, with a maximum value for all outstanding projects at any time capped at $250 million. The legislation has been sent to the Senate floor for consideration.

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