LANSING, Mich. (WLNS) — Governor Gretchen Whitmer signed 5 completely different payments into regulation immediately. The payments are designed to create jobs and decrease prices for companies.
Two of them set up a yearly “research and development” tax credit score for approved companies and taxpayers. This credit score could possibly be as a lot as $2 million a 12 months for companies with 250 staff or extra, whereas companies with lower than 250 staff can rise up to $250,000 a 12 months.
Different legal guidelines signed by Whitmer immediately create a “Michigan innovation fund program”. This program creates a fund of $60 million for use to assist entrepreneurs hoping to get began in our state.
The governor’s workplace mentioned these new legal guidelines will make Michigan extra enticing to new companies and staff alike, and Whitmer identified that generally all it takes for a startup enterprise to take off is a bit of assist.
“Think about all of the famous companies that were started in garages or dorms or backyards…” mentioned Whitmer.”They succeeded as a result of that they had entry to financing from early-stage buyers.”
Whitmer mentioned Michiganders are progressive, and he or she desires to see them develop their corporations from the bottom up with the assistance of those new legal guidelines.
