12/21/21 - Governor Signs $1 Billion Incentive Package

Tuesday, December 21, 2021 at 8:38 AM

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A Strategic Fund has been developed to recruit more businesses to Michigan.

—(AP) - Gov. Gretchen Whitmer signed legislation to bolster Michigan’s appeal to businesses.

The legislation creates the Strategic Outreach and Attraction Reserve Fund, which will be funded from state revenue, with $1 billion to be used for assistance to companies.

Funds totaling $409 million will also be allocated to support restaurants, gyms and other areas of business highly impacted by the COVID-19 pandemic.

The legislation, which includes four bills, passed the GOP-led Legislature with bipartisan support. Whitmer applauded the legislation, which she called a “collaboration between legislative leadership, my administration, and community and business leaders” in a news release Monday.

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