Michigan governor signs $1.5 billion in business incentives

Michigan

Michigan Gov. Gretchen Whitmer signs legislation to allocate $1.5 billion in economic development spending for businesses during a ceremony, Monday, Dec. 20, 2021, in Detroit. The legislation creates the Strategic Outreach and Attraction Reserve Fund, which will be funded from state revenue with $1 billion to be used for assistance to companies. The legislation, which includes four bills, passed the GOP-led Legislature with bipartisan support. (AP Photo/Carlos Osorio)

LANSING, Mich. (AP) — Gov. Gretchen Whitmer has signed legislation to bolster Michigan’s appeal to businesses.

The legislation creates the Strategic Outreach and Attraction Reserve Fund, which will be funded from state revenue, with $1 billion to be used for assistance to companies.

Funds totaling $409 million will also be allocated to support restaurants, gyms and other areas of business highly impacted by the COVID-19 pandemic.

The legislation, which includes four bills, passed the GOP-led Legislature with bipartisan support. Whitmer applauded the legislation, which she called a “collaboration between legislative leadership, my administration, and community and business leaders” in a news release Monday.

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