84 Companies Offered $63.8 Million Michigan Taxpayer Dollars In 2016
Yet Gov. Snyder says he doesn't believe in 'buying companies into our states'
Taiwanese company Foxconn chose Wisconsin over Michigan and will collect $3 billion in cash subsidies and tax breaks from Badger State taxpayers over 15 years.
Reuters news service mentioned Michigan’s response.
Republican Gov. Rick Snyder told WJR radio: “You have to ask what price is Wisconsin paying to get them to come there? I don’t believe in buying companies into our states.”
ForTheRecord says: In 2016, the Michigan Economic Development Corporation approved giving $63.8 million state taxpayer dollars to 84 companies that promised to create 9,517 jobs. The giveaways were authorized by a "Michigan Business Development Program" Gov. Snyder proposed and the Legislature enacted in 2011.
Michigan Capitol Confidential is the news source produced by the Mackinac Center for Public Policy. Michigan Capitol Confidential reports with a free-market news perspective.