Report: Michigan Seeks Foxconn Business
LANSING, MI — Michigan is willing to offer millions in incentives as part of a deal to attract Foxconn to the state, according to published reports.
The state Senate has passed a bill that would give businesses that expand or move to Michigan a 100% abatement on personal income tax withholdings of new employees for up to 10 years, provided the company brings in at least 250 new jobs and at exceptional wages. The state House is now deliberating over the bill, and the governor is imploring its passage.
Michigan has its eyes on the Foxconn business, sources told the Lansing Free Press.
According to published reports, Foxconn plans to invest $7 billion in a production plant in the US. The ODM/EMS giant has repeatedly been tied to massive investment projects around the world, including the US, but few outside China or Taiwan have matched the hype.
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