Six Detroit-area businesses approved for state tax credits

Six Metro Detroit-area businesses receive state tax credits.

Excerpt:

An $8.1 million expansion by a Warren-based purchaser and collector of charged-off consumer debt is one of 16 Michigan projects awarded tax credits Tuesday by the state.

The Michigan Economic Growth Authority board approved a $2.7 million tax credit for the Warren expansion project by Asset Acceptance L.L.C., which purchases and collects on defaulted or charged-off account receivable portfolios from consumer credit originators. The expansion is expected to create 432 jobs.

The project was among $103 million in Michigan investment announced by Gov. Jennifer Granholm, generating more than 3,900 jobs and retaining 360 jobs.

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