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Old 10-26-2007, 04:35 PM   #1
NYCshopper
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Default Chrysler could get up to $46 million in tax breaks to retool Detroit factory

Chrysler could get up to $46 million in tax breaks to retool Detroit factory

http://www.freep.com/apps/pbcs.dll/a...ESS01/71026038



Quote:
As much as $46 million in tax breaks may be on the table to encourage Chrysler LLC to invest $366 million to expand its Jefferson North Assembly Plant in Detroit.

The factory builds Jeep Grand Cherokees and Jeep Commanders. The UAW has told its members that the automaker has promised to build crossover vehicles that will replace those models in the company’s lineup at the Jefferson plant. The Free Press earlier this year reported Chrysler had already begun preparation work for the expansion.

The factory builds Jeep Grand Cherokees and Jeep Commanders. The UAW has told its members that the automaker has promised to build crossover vehicles that will replace those models in the company’s lineup. The Free Press earlier this year reported Chrysler had already begun preparation work for the expansion.

The state said Chrysler is considering a $366-million investment at the plant and possibly others.

Today, the Michigan Economic Growth Authority board approved a state tax credit valued at more than $6 million over seven years to encourage the project.

A Chrysler spokesman declined comment.

The city of Detroit is considering a 12-year abatement worth around $40 million, the state said.

“A strong Chrysler is important for Michigan and Michigan workers, and we stand ready to help them thrive,” Governor Jennifer Granholm said in a statement. “This expansion will continue a valuable, long-term partnership that has helped to keep Michigan the automotive capital of North America.”

Michigan Economic Development Corp. estimates the Detroit plant expansion will create or retain at least 400 Chrysler jobs, and up to 1,019 other Michigan jobs.
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Old 10-26-2007, 07:07 PM   #2
Hazdaz
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Yea! Corporate Welfare at it's finest
... and let me guess, Chrysler strong-armed an already reeling Detroit that if they didn't give them those tax breaks they would move the plant someplace else?

So basically to save those 1400 jobs, the state/city had to give up $33,000 per job in tax money. While jobs - especially manufacturing jobs - are incredibly important to any economy, these companies have too much pull in being able to get these enormous tax breaks... and even worse is that now the taxpayers of Detroit have to make up the difference.
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Old 10-26-2007, 07:12 PM   #3
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$46 million dollars is a bargin if it will entice Chrysler to stop building passenger vehicles that get 15mpg or less, and encourage them to build something better. Those vehicles are worth more dead than alive. We should do everything we can to encourage them to be taken out back and shot.
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Old 10-26-2007, 07:15 PM   #4
`04AlpineWhite
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If it will bring in more than the city's investment in the long run, then great.

On occasion, governments can behave rationally, and in the best interest of their people. Let's hope this is one of those times.
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