LANSING – Gov. Jennifer Granholm said today the commitment of four companies to produce advanced automotive batteries in Michigan – aided by up to $100 million each in extra state tax credits – strengthens the state’s stature as a future automotive leader.
“Michigan has planted its flag,” she said. “Michigan will be the place where the electric vehicle, and the batteries that power that vehicle, will be researched, developed, manufactured and assembled.”
Hours earlier, the four companies -- one more than expected – were granted the generous tax credits, in addition to standard tax breaks from the Michigan Economic Development Authority (MEGA).
The MEGA board also approved a $2.8-million tax credit over 12 years for a planned $146-million film and TV studio in Allen Park, to be built by a Burbank, Calif.-based enterprise.
The battery-maker deals could help General Motors and Chrysler win support from President Barack Obama in their quest for government assistance to head off financial collapse. Granholm said Obama has made energy independence a U.S. priority. More here.