LANSING (AP) — New plant coming to Detroit gets big boost from tax incentives.
Michigan officials have signed off on nearly $93 million in tax incentives to help Fiat Chrysler open the first assembly plant in Detroit in decades.
The Michigan Strategic Fund Board approved the city’s request Tuesday to capture state and local taxes starting in 2022 and going for 30 years. The money would pay for site preparation, the purchase of land and other expenses.
The move follows the approval of $223 million in state incentives in May for the project.
As part of a plan to add nearly 5,000 jobs in Detroit, Fiat Chrysler will reopen a long-idled plant and convert an existing factory into a full assembly facility. It also will retool and upgrade a separate assembly plant in the city.