Deputies with the Kent County Sheriff's Department are looking …
Friends and family of Latrice Maze gathered Saturday morning to…
Officers are investigating what school officials are calling …
A Cessna pilot is feeling a little embarrassed this afternoon …
A suspect is in custody in connection to the two assaults that …
Advertisement
Audit: Tax-free zone jobs not verified
Reniassance Zones receive tax breaks
Updated: Wednesday, 23 Jan 2013, 10:57 AM EST
Published : Wednesday, 23 Jan 2013, 10:57 AM EST
LANSING, Mich. (AP) - State auditors are knocking Michigan's tax-free Renaissance Zones, saying commerce officials haven't come up with a way to measure the program's effectiveness.
A report released Wednesday says the state relies on reports from businesses and hasn't verified the number of new jobs or how much private money has been invested.
Businesses operating in Renaissance Zones are free of many local and state taxes. They range from urban areas in the Lower Peninsula to remote, rural areas in the Upper Peninsula. The audit estimates that tax breaks worth $820 million have been granted since 1997, mostly local taxes.
The state says more than 12,000 jobs have been created, but auditors say the number hasn't been independently verified. The Michigan Economic Development Corp. is working on ways to judge the program's effectiveness.
Comment to 24 Hour News 8
Don't have a Facebook account? Or don't want to share something publicly? Email us here.
Email This
PrintThis
View Story on a Single PageAdvertisement
Photos: What to buy with $600 million
Some of the items worth buying after winning the Powerball jackpot on May 18, …
Advertisement
Advertisement