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Fri July 24, 2009
Granholm calls for Senate action on MEGA credits
By Rick Pluta, Michigan Public Radio Network
EAST LANSING, MI – Governor Granholm uses her weekly radio address to call on the state Senate to boost the number of tax credits her administration can use to attract businesses and jobs.
The governor says business recruitment efforts could stall without more Michigan Economic Growth Authority -- or MEGA -- tax credits. The MEGA board has nearly reached its limit, and won't be able to award new business tax credits until next year.
Governor Granholm says that would leave Michigan at a disadvantage in the fierce competition for jobs.
"Tax credits that are approved by the MEGA board help Michigan compete with other states and even foreign countries for new companies or the expansion of present businesses," she says.
The governor wants the state Senate to act on a bill add more credits. But the Republican chair of the Senate Finance Committee says she wants more proof that the credits are really working as intended before she'll give her approval.