ANNOUNCED AS TEMPORARYNo
Tax or social insurance relief
On January 11, 2010 Governor Jennifer M. Granholm of Michigan announced that Ford Motor Company plans to invest an additional $450 million in electrification initiatives in Michigan, including moving future battery pack assembly for hybrid vehicles from Mexico to Michigan. The project will include assembling the next-generation hybrid electric vehicle and plug-in hybrid with lithium-ion batteries at the Michigan Assembly facility, producing the hybrid drive transmission for the company’s global products, and manufacturing battery packs and engineering for Ford’s hybrid vehicles. The pack manufacturing will include design and in-house assembly, which is currently done in Mexico.
Based on the Michigan Economic Development Corporation’s recommendation, the Michigan Economic Growth Authority board approved Phase II incremental job retention credits valued at $110 million and battery pack tax credits valued at $78 million, for a total incentive package valued at $188 million (presumably over a ten-year period), to help win Ford’s investment over competing states, China, Europe and Mexico.
⚑ Please report this page in case you detect an inaccuracy in its content.