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Michigan Lawmakers Approve Tax Incentives for Companies Adding Jobs

Promo Image: Michigan Lawmakers Approve Tax Incentives for Companies Adding Jobs

Companies creating at least 250 jobs in Michigan could get a tax incentive under legislation approved by the House and Senate.      

Lawmakers approved the legislation that would clear way for the "Good Jobs" program on Wednesday.

Governor Rick Snyder has pushed for the bill to pass as the state tries to lure Taiwanese electronics giant, Foxconn, to the state.

They could build a plant that would hire 5,000 people.

Supporters say the tax incentives will help Michigan compete with other states to land new good-paying jobs, but critics say it comes at the expense of individuals who deserve a tax break as well.

This all comes six years after Gov. Snyder ended such tax incentives in favor of a scaled-back economic development program.