(MPRN-Lansing) State lawmakers are taking bites out of the Michigan Economic Development Corporation budget. The MEDC has been a target in this budget cycle because a lot of Republicans think taxpayers shouldn’t foot the bill for business incentives.
Governor Rick Snyder has reduced those incentives, but still included some in his budget proposal. A Senate subcommittee just voted to gut state money for a business attraction fund. This specific fund helps developers in blighted areas with construction and environmental cleanup costs.
State Senator Jim Stamas (R-Midland) says the private sector will fund the program if it’s important enough.
“In looking at we’re making sure that we’ve been effective and efficient with the taxpayers’ dollars, we elected to allow them the opportunity to, if they want to fill those dollars with corporate dollars, then we were open to that suggestion,”
he said. Snyder administration officials say they’re open to negotiating.
“We came out with our best thinking in February when the governor released his budget,”
said Kurt Weiss of the governor’s budget office.
“The Legislature has their thinking and their ideas, and, in the end, we know we’ll come up with a final product in early June when the budget’s finalized, that will grow stronger.”
Schools, universities and local governments begin their fiscal year on July 1.
