Michigan state Sen. Ken Horn (R-Frankenmuth) | senatorkenhorn.com
Michigan state Sen. Ken Horn (R-Frankenmuth) | senatorkenhorn.com
Gov. Gretchen Whitmer (D-MI) has signed a bipartisan bill that will help the state secure investment opportunities and more economic growth.
Senate Bill 844 will help fund the state’s bipartisan Strategic Outreach Attraction Reserve (SOAR) program, which was created in December of 2021; a press release from the governor's office said.
“When Michigan loses population, our state loses,” state Sen. Ken Horn (R-Frankenmuth) said in the release. “Without growth, we lose. Now more than ever, I am pleased to see critical investments being made in our people and our communities.”
The SOAR fund will seek to provide assets for property development to entice businesses to construct their projects.
“Today, I am proud to sign another bipartisan bill that will build on Michigan’s growing economic momentum, attract billions in investment, and create tens of thousands of good-paying jobs,” Whitmer said in the release “The bipartisan legislation will help us grow, attract, and retain businesses in Michigan, ensuring we can lead the future of mobility and electrification and bring supply chains of chips and batteries home to Michigan. Our work on economic development is a testament to what we are capable of when we work together. Let’s keep putting Michiganders first and moving our state forward.”
The provision earmarks $496 million for future economic investments, $350 million for site development statewide and $27 million for China-based chip manufacturer Hemlock Semiconductor to develop a facility in the state.
"The Whitmer administration's economic wins keep adding up for Michigan,” state Rep. Rachel Hood (D-Grand Rapids) said in the release. “I look forward to continuing our work to attract and retain the technology and manufacturing companies who will drive West Michigan's economy in the 21st century. We're ready!"
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