Michigan Economic Development Corporation Incentive Plan - News
Ford Looking to StayGovernor Jennifer M. Granholm and Michigan Economic Development Corporation President and CEO James C. Epolito announced an incentive package approved by the MEDC to encourage Ford Motor Company to make new investments of up to $1 billion in Michigan facilities for flexible manufacturing and advanced powertrain technologies. If approved by the company, the project will retain a total of 56,200 Michigan jobs, including up to 13,740 jobs directly by Ford. "There is no vision for Michigan's new economy that does not include Ford cars and trucks designed, engineered, and made in Michigan," Granholm said. "The company's consideration to invest more than $1 billion in its Michigan facilities is a testament to our first-class workforce and our pro-business environment. We'll continue to fight to keep these jobs in Michigan." The MEDC approved a single-business tax credit valued at more than $151 million over 20 years to win the company's investment. "Ford is proud to be part of this great state, and our work to keep Ford's future a huge part of Michigan's future underscores our serious commitment to the people and the communities that have helped make this company great for more than a century," said Mark Fields, Ford's president of the Americas. "We thank the people of the state of Michigan for their support of the 'home team' and for believing in the importance of American auto companies." A University of Michigan economic analysis estimates that increased economic activity created by the investment would save an additional 42,460 indirect Michigan jobs in addition to the up to 13,740 retained directly by the company. The project is expected to generate more than $62 billion in personal income for Michigan workers over the life of the tax credit. For more information on the Michigan Economic Development Corporation's initiatives and programs, visit www.michigan.org.
Holy Huge ShowIf the mini-trucking community thought we had some huge shows to talk about, check this out. The Woodward Dream Cruise generates a $112 million economic payoff for the region in Michigan. The annual cruise of classic cars was attended by nearly 2 million last year and stretches over 16 miles. To check it out, visit www.woodwarddreamcruise.com.
Golden EggGeneral Motors lost $3.2 billion globally in the second quarter. Last year, GM-brand licensed products in the United States sold nearly as much. As cash-strapped auto marketers scour for ways to make profit numbers, revenue from key rings, T-shirts, and other licensed goods is regarded as a golden egg that can extend brands and bring in hundreds of millions of dollars at little cost.
Bye to the BestUnfortunately, we've officially lost one of our all-time favorite shows. Most might have already heard, but for those without much Internet time, we feel obligated to tell the MT world. The two-time Mini Truckin' "Show of the Year," Assorted's Showfest, is no more. Here are the closing comments from the Assorted crew.
Dear fellow mini-truckers,It is with great regret we inform you that Assorted has decide to cancel Showfest for an indefinite period - possibly forever.
We want to thank everyone who helped us build a club-run show from the ground up. We were honored over the years and awed by your enthusiasm and support. Thank you so much for the friendships, the sponsorships, and the volunteers who worked so hard to pull off what seemed like impossible odds at times. We hope we've given you some great memories and good times.
Among some of our reasons for this decision are (but not limited to): escalating costs, loss of the Burn Center, safety concerns, lack of dialogue with some city officials, negative local media, lack of sponsorships, decreasing attendance, and the logistics of trying to move the show to a new location. All of this would have to be overcome by just eight members. And quite honestly, we need a break. It was not an easy decision, and we hope that you will understand.
Again, THANK YOU for 11 great years!Peace out,"Chunks" Burnley
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Fast 411Ford workers still worry that more job cuts are on the wayStudy says growth in consumer satisfaction with cars, computers, and the Net is a good sign for the economy