LANSING, Mich. Today Senate Democrats voted to approve an extension of the Michigan Economic Growth Authority (MEGA) tax credits that would allow the program to award incentives to redevelop the old Ford plant in Wixom to create a renewable energy park that will bring millions of dollars of investment and thousands of jobs. Without the passage of these bills, SB 777 and HB 4523, MEGA would have been unable to issue any more job-producing credits and this project would not be possible.

"Michigan has seen a great deal of success from the MEGA program and by expanding these credits we can keep this success going," said Senate Democratic Floor Leader Buzz Thomas. "With these additional tax credits we can continue to capitalize on new industries in Michigan and help stabilize our job market."

These credits are essential to generating economic activity in Michigan, and in particular, helping the state shift from traditional manufacturing to growing, high-tech and green industries. Xtreme Power and Clairvoyant Energy are expected to invest $725 million at the Ford Wixom plant. Xtreme Power will create 2,500 direct jobs and 10,000 supplier and indirect jobs, including a minimum of 4,000 jobs in Wixom. Clairvoyant Energy will create 270 direct jobs, and its manufacturing partner, Oerlikon, plans to locate its North American Headquarters at Wixom, creating 300 jobs. The project had been closed for two years due to lack of funding.

"The action taken today represents great progress for Michigan's economy and our workers, but we still can do more," said Senator Glenn S. Anderson. "We have the tools in place to be competitive, but we need to secure funding to continue to keep attracting businesses and new jobs to Michigan."

There are currently more than sixty other potential projects in the lineup to receive MEGA incentives, and while today's legislation only specifically addresses the Wixom project, Senate Democrats continue to push for funding this program to support other investments in the state as well.

Since 1995, the Michigan Economic Growth Authority has promoted job creation and economic growth throughout our state by generating billions of dollars in private investment and the creation and retention of more than 320,000 jobs. Fourteen years later, we are still seeing vast economic benefits from these credits. Michigan has seen a great deal of new business in nearly every sector including manufacturing, automotive supply, film and television and renewable energy.

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