Saturday, September 14, 2013

State Agency Approves Subsidy Deals Despite Repeated Shortcomings

State Agency Approves Subsidy Deals Despite Repeated Shortcomings [Michigan Capitol Confidential]:
"In 2003, the Hyundai Tech Center in Superior Township was approved for up to $22.2 million in state incentives with the claim 400 jobs would be created.
Two years later, Hyundai Tech Center officials announced they were going to expand the facility and add 600 more jobs; the state offered $32.6 million more in incentives.
However, only 124 jobs have come to fruition, according to company officials, far short of the projected 1,000 that were touted in the two deals with the Michigan Economic Development Corp.



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