Economic development incentive tool delivers on promises made, creating 8,200 new jobs and $5.1 billion in investment across state to date
Lansing, Mich. — The Good Jobs for Michigan coalition issued the following statement after the Senate Economic and Small Business Development Committee today passed Senate Bill 492, the bipartisan Good Jobs for Michigan renewal legislation sponsored by Sen. Ken Horn.
“The Good Jobs economic development tool has more than proven itself in two short years and earned renewal. It’s attracted major projects in diverse industries across our state – creating more than 8,200 new jobs and more than $5 billion of investment benefitting our families and communities. It ensures Michigan is on the map and was able to beat Silicon Valley, neighboring Great Lakes states and key metropolitan areas like Chicago, Dallas, New York and Toronto in landing five transformative projects. That’s why our broad coalition of 62 organizations statewide is behind it 100 percent.”
The Good Jobs program has helped attract the first auto assembly plant in Detroit in three decades, a new world headquarters in Grand Rapids and R&D and manufacturing centers that ensure Michigan is home to the latest, most advanced technologies – from mobility to life-saving medicines.
The coalition also pointed out numerous safeguards to protect both taxpayers and communities in the program. Specific provisions include:
- It’s performance-based: no jobs, no incentive.
- It’s accountable: details are publicly disclosed; both jobs and wages must be verified annually.
- It’s predictable: the number of projects that can be approved each year is limited with no favoring of one project or industry over another.
- It’s positive: requires support of local community where the project would locate or grow, and always results in a net positive economic impact.