Michigan House, Senate Pass ‘Good Jobs for Michigan’ Legislation
July 12, 2017“The Chamber is thankful for the leadership of Governor Snyder and the Legislature to create this policy that will allow Michigan to compete with every state in the nation for job growth,” said Brad Williams, vice president of government relations for the Detroit Regional Chamber.
MORE: Read the Chamber’s testimony to the House Policy Committee in support of House Bills 242-244.
Under the legislation, business expansions or new locations that create a minimum of 500 new jobs and pay wages at 100 percent or more of the regional average wage would be eligible to capture up to 50 percent of the personal income tax withholdings of the new employees for up to five years. In addition, business expansions or new locations that create a minimum of 250 new jobs and pay wages at 125 percent or more of the regional average wage would be eligible to capture up to 100 percent of the personal income tax withholdings of the new employees for up to 10 years. There is a cap of 15 projects per year with a rolling cap of $250 million for all projects.
“The passage of this legislation creates a vital tool as the Chamber travels the nation and globe to attract companies to grow in our region,” said Justin Robinson, vice president of business attraction for the Detroit Regional Chamber.
This is the Chamber’s second major economic development victory in the state this year, following the MIThrive package that will incentivize transformational brownfield developments in cities across the state.