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Tue May 11, 2010
Michigan economic agency defends review practices
LANSING, MI –
Michigan's economic development agency is defending its audit practices in the aftermath of criticism from lawmakers.
Michigan Economic Development Corp. CEO Greg Main says an additional auditor general report ordered last week by state Sen. Nancy Cassis is duplicative because a similar review already has started within MEDC.
The MEDC hopes to detail its review practices for the tax credits it awards before a House subcommittee on Wednesday.
The MEDC has come under fire because of a recent auditor general report that found some companies awarded Michigan Economic Growth Authority tax incentives didn't always live up their agreements on how much they would pay workers.
Cassis wants the auditor general to do a more thorough review of tax credits from 2008 and 2009.