General Motors At Risk Of Losing Corporate Headquarters
Agent009 submitted on 11/17/2009 Official Bell & Ross Timestamp: 1:00:44 PM
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Without state tax credits to keep 2,500 workers at the Detroit Renaissance Center, General Motors has told the state its downtown headquarters is as at risk, according to records at the Michigan Economic Development Corp.
The state’s economic development agency is recommending that the Michigan Economic Growth Authority approve amending previously approved retention tax credits to include GM’s RenCen. Under the terms of the proposed deal, GM would have to keep 2,500 employees with a maximum payroll of $60 million at the RenCen to get the full tax break. A memo to the MEGA board said, “2,500 is the maximum that they can also take for this portion of the credit. General Motors has submitted an application stating that the headquarters is at risk without this credit.”
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