"One of the state of Michigan’s primary methods of delivering taxpayer-funded subsidies to select private businesses was a law and program called the Michigan Economic Growth Authority.
...the program has been suspended since 2011..
Yet state officials anticipate they will be handing out refundable tax credits to businesses as far out as 2031, according to the its most recent report.
"Refundable" means a good portion of the benefits will go to recipients in the form of cash, not just reduced tax bills.
The exact amount is a government secret, however.
The Michigan Economic Development Corporation is the state agency that manages all this, and it projects the state still has $5.3 billion more in previously promised MEGA tax credits to give out over the next 10 years...Read all.