In last month’s newsletter, we highlighted the need for strong economic development tools that support job creation and growth. Our competitor states provide them, and the benefits are obvious-more jobs, higher income, better results.
Michigan legislators are now taking the next step. A new legislative package, Senate Bills 1153-55, is now under discussion and, if passed, these common-sense incentives could help make our state far more competitive. They’ll help us attract and retain jobs that should be in Michigan, instead of Ohio or Indiana.
Senate Bills 1153, 1154, and 1155 create a tax abatement to help with the attraction and expansion of high-wage jobs in MI. Under the legislation, companies can keep a portion of the payroll taxes they would otherwise owe to the state for the jobs they create. No accounting nightmares. Companies simply keep the taxes instead of sending them to the state.
This is the kind of incentive employers want-and the kind of competitive tool states are using to get ahead. In fact, most states view these kinds of incentives as vital tools for creating net new jobs and revenue. They treat economic development as a non-partisan issue, the kind of public policy tool that delivers economic success.
So what’s next? We need you! Let your state representative and senator know that you support making sure MI has the economic development tools to grow those high-paying jobs here. You can find your lawmaker by clicking here.