Michigan Senate Committee Approves New Business Incentives

In Lansing, a Senate committee approved bipartisan bills to try and bring in bigger businesses to our state.

The moves would give up to $250 million in tax breaks. Supporters say are needed to compete with other states.

The legislation would authorize the Michigan Strategic Fund to strike decade long deals with companies so they could keep income tax withholdings.

Businesses would need to be able to create at least 250 jobs that pay 125 percent or more of the average wage in the county, or if they create at least 500 jobs.