Michigan awards GM $130 million in tax incentives

FLINT, Mich. (AP) - Michigan officials say they've approved $132.5 million in tax incentives to encourage General Motors Corp. to build a new plant in Flint and upgrade four other facilities in the state.

Tuesday's action backs $838 million in proposed GM projects. They also include upgrades at the Detroit-Hamtramck assembly plant, Pontiac Metal Center, Bay City Components Plant, and GM Technical Center in Warren.

The Michigan Economic Growth Authority approved a state tax credit worth about $122.5 million over 15 years and a brownfield tax credit worth $10 million. Flint, Pontiac and Bay City also approved tax abatements for the project.

Source: Associated Press