Report: Detroit automakers pledge $2B investment after Michigan passes tax incentives
But that's a drop in the bucket compared to what Ford and Chrysler walked away with. Ford was given a 15-year, $909 million credit. As part of that deal, FoMoCo has to retain 28,000 workers. Around $414 million of that tax break is geared toward helping Ford pump $850 million in to a slew of plants spread around Michigan.
Chrysler, meanwhile, took the incentive cake. The smallest of the big three was awarded $1.3 billion in incentives over 20 years geared at keeping 20,000 people at work. The tax breaks surround everything from upgrades to the company's Sterling Heights facility to work required to prepare its Dundee facility to manufacture the Fiat 1.4-liter Multiair four-cylinder.
All told, the tax breaks will reportedly allow the big three to invest a combined $2 billion in their respective Michigan facilities.
[Sources: The Detroit Free Press, The Detroit News]
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