The jury is still out on whether Michigan's new economic development strategy will work. But one thing's for certain. The state is making a 180-degree shift from its previous strategy of using billions of dollars in tax breaks and other incentives to jumpstart growth in five key industries.
Under Gov. Rick Snyder, Michigan economic development officials are betting that spending fewer dollars more wisely, helping existing businesses grow and giving many companies a big tax cut will enable the state's economy to flourish.
"It's not necessary to offer ever-increasing incentives in order to be competitive as a state," said Michael Finney, CEO and president of the Michigan Economic Development Corp.
To read the full, original article click on this link: Experts divided on Michigan's economic development strategy of reducing tax breaks | Detroit Free Press | freep.com
