Search for “medc”

Options:   relevant   newest     10 50     expanded condensed

Results 1 to 10 of 363

Why you should never believe corporate welfare promises

Planners’ forecast for Ford plant was comically wrong; will anybody be held to account?

… the quality of the data being fed into it. In this case, the old programmers’ adage was precisely true: If garbage goes in, garbage comes out. The MEDC’s precise multiplier is based on a bunch of assumptions. Can state officials produce accurate assumptions? Ford bigwigs couldn’t accurately foretell … more

Ford pares back Marshall plant, and state incentives will follow

Automaker will hire 800 fewer people than planned; investment will shrink by $1.3 billion

… prep work. The CIP grant, Renaissance Zone exemption and PA 198 industrial property tax abatement will be reduced in step with the project downsizing, MEDC spokesman Otie McKinley said. Officials have not said how much the taxpayer money would be pared back. Ford is teaming up with a Chinese firm, CATL, … more

D-Day ship left adrift by Muskegon politics

$2.8M in state earmarks spark battle over legislative intent

… Agency. The $1.5 million grant would pay for land cleanup and improvements, MEDC official Jake Eckhold told MLive in 2021. The next fiscal year, lawmakers … not spent in accordance with the grant agreement must be returned to the MEDC.” But the relationship between the city and Mart Dock grew worse over time. … more

Recipient of $65M confident Marshall project will resume

Since Monday, three top officials have portrayed Ford pause as a tactic in UAW negotiations

… Michigan site and we need to allow the Ford Motor Co. and UAW to continue their negotiations,” Messer, chairman of the strategic fund and head of the MEDC, told the board Tuesday. All told, the $3.5 billion project could have already received as much as $270 million in corporate welfare of the $1.7 billion … more

Despite Ford ‘pause,’ board approves $65M for Marshall site

BlueOval Battery Park could have received as much as $270M of $1.7B in corporate welfare already

… and we need to allow the Ford Motor Co. and UAW to continue their negotiations,” Quentin Messer Jr, chairman of the strategic fund and head of the MEDC, told the board Tuesday. A call to the Marshall Area Economic Development Association went unreturned. more

Gotion is ‘wholly owned’ by a Chinese company, and 2 other takeaways from its foreign-agent filing

Gotion’s FARA declaration contradicts its articles of association

… staffers from both EGLE and the Michigan Economic Development Corporation. On Jan. 30, three EGLE staffers were on the call, and four were from the MEDC. On a phone call about environmental issues, the business development team outnumbered the environmentalists. The final outcome of those discussions … more

Michigan grants $500K for electric boat charging solutions

Michigan Tech will study how far boaters can travel from their home docks before needing to recharge

… is to “put Michigan at the forefront of future-proofing sustainable maritime transportation.” Six projects received grant funds from the state. The MEDC announces them as follows: Arc, a California-based electric boat manufacturer will receive $20,000 to conduct technology demos and demonstrate the … more

Michigan offered company $28B in corporate welfare, and still didn’t land it

Cash incentive offered to Micron was bigger than Michigan’s budget for state police and corrections

… included a 50-year property tax break amounting to about $23.8 billion in tax savings for the company over the lifetime of the abatement, according to the MEDC. That tax break would be offset at least partially by a negotiated payment in lieu of taxes. Michigan made “the largest known offer” of incentives … more

MEDC asks $5,700 for nondisclosure agreements

Government-by-NDA has been business as usual in Michigan. But the Mackinac Center insists on transparency

… agreements exist on corporate welfare deals? The MEDC’s preliminary response to the FOIA request offers … window, but it leaves many questions unanswered. The MEDC refers to 5,572 “sides” of paper that need to be … agreements, when, and why? Whitmer? Lawmakers? MEDC staff? Who, specifically? What did they attest … more

CapCon’s Michigan Constitution Project: What we hope to achieve

In 2023, Michigan Capitol Confidential will study the state constitution

… (2022), involved state subsidies to corporations. The court asked the Mackinac Center to file an amicus brief on the statutory question of whether the MEDC had to disclose the full amount it had promised to General Motors. The Mackinac Center’s brief pointed to Article 9, Section 23 of the Michigan Constitution, … more