GM's RenCen headquarters in Detroit 'at risk' without tax credits?
As the story goes, transcripts from the Michigan Economic Development Corp. say that the Michigan Economic Growth Authority needs to amend a slate of already-approved tax credits to include the Renaissance Center. The requested amendment reportedly includes a provision that GM would need to keep at least 2,500 employees working at the RenCen with a total payroll of $60 million in order to qualify for the incentives.
If GM does not receive the tax breaks, it could disburse the approximately 1,500 additional workers at its headquarters to other offices in the metro Detroit area.
[Source: The Detroit News | Image: Bill Pugliano/Getty]
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