Southeast Michigan grabs in lion’s share of MEDC investment

Southeast Michigan is walking away with most of the most from the latest round of investment announcements from the Michigan Economic Development Authority.

Metro Detroit took in $135.1 million of the $162 million earmarked for
investment. That money is expected to create about 1,359 jobs over the next decade. All at the cost of $15.8 million in tax credits granted by the Michigan Economic Growth Authority.

The biggest investments came from the largest firms, such as General Motors and BAE Systems. GM is setting up a lithium-ion battery factory and BAE Systems is setting up a technical center for engineers in Sterling Heights.

Among the other firms making investments in exchange for tax credits are:

Since January 2005, the governor and the MEDC have announced the creation or retention of more than 310,500 jobs as a result of targeted assistance provided by the MEDC.

Source: Michigan Economic Development Corporation
Writer: Jon Zemke