WJR 760 AM: Michigan Loses Out on $100 Billion Semiconductor Plant After Offering Billions in Incentives
The Detroit News obtained the economic development subsidy package the state of Michigan offered Micron Technology. The offer was one of the highest-ever: $27.9 billion, which included 50 years of property tax breaks.
Good Jobs First Research Analyst Jacob Whiton joined WJR 760 AM radio hosts Kevin Dietz and Tom Jordan to talk more about the deal.
“I really think Michigan dodged a bullet here. I mean, this is a company that made $50 billion over the last decade and we’re supposed to believe that they can’t raise the capital to build their own factory. And I mean don’t forget, the federal government will almost certainly be adding in a couple of billion here as well,” Whiton said. “I think the whole episode really shows us what’s so broken about the way we’re doing economic development is in this country.”
Listen to the full interview at WJR 760 AM.