Lansing–Today, Detroit Regional Partnership President and Chief Executive Officer Maureen Donohue Krauss released the following statement after providing testimony virtually to the Senate Committee on Economic and Small Business Development on Senate bills 981-983. The legislation would capture income taxes at Strategic Outreach and Attraction Reserve (SOAR) sites to ultimately provide a revolving loan fund to secure future projects and drive job economic growth in Michigan.
“Hopefully we’ve learned that the fierce global competition for transformational projects and industries, like automotive, never stops — and neither can we when it comes to incentivizing companies to invest in Michigan,” Krauss said. “In no time at all SOAR has delivered powerful results. It makes sense to expand and strengthen this important tool so we can continue to compete for our share of jobs and investment for years to come. These bills are another important step to beating out our domestic and international competitors and ensuring the future of the electric vehicle stays in Michigan.”
About the Detroit Regional Partnership
Launched in 2019, the Detroit Regional Partnership is a public-private economic development partnership focused on marketing and business attraction for the 11-county Detroit Region. It serves as a convenient single point of contact to all regional resources and works with companies and site selectors to help manage their projects and support their transition into the region. It specializes in helping companies understand and access the competitive advantages of our region – from workforce data to state and local incentives. Learn more at: DetroitRegionalPartnership.com.