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Wed September 2, 2009
State House passes Wixom tax credit extension
By Laura Weber, Michigan Public Radio Network
WIXOM, MI – The state House has passed legislation that will extend $100 million in tax credits to turn the shuttered Ford plant in Wixom into a green technology center.
Ford plans to sell the property to companies that make solar panels and energy-saving batteries. This would be the first major overhaul of an auto plant to green technology. The Legislature must pass the tax credits before September 14th to insure the companies can secure federal loans.
State Representative Lisa Brown says those federal loans are integral to a deal with Ford:
"I can't say this enough; time is of the essence," she says. "We must pass these credits quickly or we risk losing the federal loans that will keep this project in Michigan. And by losing this project we'll be losing thousands of jobs for our state."
A Senate committee passed the tax credit extension last week. The legislation is expected to pass in the full Senate as well.