moparnut
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FCA US has a revised agreement with the Michigan Economic Development Corporation/ Economic Growth Authority, which caps thevalue of the tax credits it can claim. The MEGA credits became controversial when they topped $9 billion, thanks to lavish spending in 2009-10, when credits were given for promises of jobs retained rather than added.
FCA US is required to invest anotherbillion dollars into capital investment over the term of the MEGA tax credit; the company has spent $4 billion in Michigan and added nearly 15,000 new jobs since 2009. A press releasenoted that FCA would not say how it planned to invest, but observers expect thatupgrades and repurposing of the Sterling Heights and Warren Truck plants will account for a good deal of the investment. (...) →
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FCA US is required to invest anotherbillion dollars into capital investment over the term of the MEGA tax credit; the company has spent $4 billion in Michigan and added nearly 15,000 new jobs since 2009. A press releasenoted that FCA would not say how it planned to invest, but observers expect thatupgrades and repurposing of the Sterling Heights and Warren Truck plants will account for a good deal of the investment. (...) →
More...