Howes: Gilbert-backed tax incentive bill could aid more than just Detroit development
A state Senate committee gave its unanimous approval this week to a package of state tax incentives that could allow developers to capture state sales and income taxes to help pay for large development projects in Michigan.
This "brownfield legislation" is something that developers like Dan Gilbert are pushing hard for as the package goes to the full Senate for consideration. Brownfield sites are often abandoned industrial sites that would require a significant clean-up and a major financial investment.
How would this legislation work? And since it appears to be a case of "picking winners and losers," is this something Gov. Rick Snyder will support?
Detroit News business columnist Daniel Howes says, "he probably feels like he's going to need to."
Howes says the governor's legacy could use a boost, to put it mildly, and this tax revenue could be used to clean up some major eyesores across the state of Michigan.
Listen to the full interview above to hear why this could benefit cities of all sizes and not just Detroit and what kind of impact this could have on the state's revenue.