News Bite

Firm Made $1.6 Billion, Corporate Subsidy Agency Boasts Offering It $2.6 Million

Michigan taxpayers will pay for it

The state agency in charge of giving subsidies to corporations and developers stated in a press release that it gave taxpayer dollars to the medical device company Stryker.

The Michigan Economic Development Corporation stated that it approved a $2.6 million grant to the company, under the Michigan Business Development Program.

In 2020, Stryker reported making $1.6 billion in profits.

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.