Grim as things may be at Detroit's Renaissance Center, General Motors is soldiering on, thanks in part to a change in its state tax credit from the Michigan Strategic Fund. The amendment could lead to $800 million in new investments in the state, as well as 1,750 new jobs.
According to The Detroit News, the amendment boosts the number of jobs eligible for the state tax credit at the company's Warren Technical Center from 5,000 to 6,750, leading to speculation that the new positions will be created at the sprawling, suburban campus.
That speculation is backed up by a statement from the Michigan Economic Development Corporation, which said, "The 1,750 additional jobs will be the result of the consolidation of various engineering functions from outside of Michigan to a site in Michigan."
As for the $800 million in new investment, MEDC claims that GM will upgrade "various facilities in Michigan in anticipation of future vehicle platforms and programs."
GM, however, refused to speculate on the impact of the tax credit changes, with spokesperson Heather Rosenker telling The News:
"GM's prospects are bright, and we want Michigan to play an important part in the company's growth. We are pleased with the state of Michigan's action which makes a strong business case for potential future jobs and investment at GM facilities across Michigan."