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The SOAR fund was originally intended to help fund large community projects and business incentives in Michigan. The new legislation would extend that funding to allow for long-term planning such as housing and transportation.
Democratic Michigan Gov. Gretchen Whitmer's effort to lure electric vehicle factories has reportedly not produced the thousands of jobs she promised.
Legislators, who are debating economic subsidies, raise alarms after Bridge reports that Michigan spent $1 billion to create 200 jobs in EV battery plants.
Possible changes to a years-long business incentive program have economic development leaders wondering how it might impact the State of Michigan.
A proposal to remake the Strategic Outreach and Attraction Reserve, better known as the SOAR Fund, advanced out of a state House committee Tuesday.