LANSING – An effort to entice big businesses with government-backed incentives advanced in the Michigan Senate Thursday, just a day after the state House approved similar legislation.
Senate Bills 769, 770 and 771 passed with bipartisan support in the Michigan Senate on Thursday and would create the “Strategic Outreach and Attraction Reserve Fund” and the “Critical Industry Fund” where state dollars could be diverted to businesses interested in building new manufacturing or commercial sites and creating jobs. They are essentially the same as a three-bill package that cleared the House Wednesday.
The package was spurred by Ford’s recent $11.4 billion investment at new plants in Tennessee and Kentucky, which will build F-Series pickups and electric vehicle batteries. Some lawmakers have signed non-disclosure agreements regarding at least one potential project that could benefit from the package’s passage, according to The Detroit News.
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