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Wed October 14, 2009
MEDC legislation passes House
By Laura Weber, Michigan Public Radio Network
LANSING, MI – The state House and Senate may be close to approving more economic development tax credits designed to attract new businesses to Michigan.
The organization that hands out the incentives ran out of a year's worth of credits in six months. Lawmakers disagreed over whether to give the group more credits, and how to make sure they were being used wisely.
Democratic state Representative Ed Clemente chairs the House economic development committee. He and his counterpart in the Senate have been working toward an agreement over the last couple months.
"It's a symbiotic relationship, somewhat," he explains. "I don't disagree with her that there is some logic in making sure that in tough times we're getting as much value out of these credits."
The Senate is expected to approve additional credits next week.