July 6, 2007

LANSING - In her weekly radio address, Governor Jennifer M. Granholm today praised Michigan legislators' recent approval of the new Michigan Business Tax (MBT) and underscored her commitment to attracting new businesses to Michigan.  Granholm said a simple, fair, competitive tax structure is critical to bringing jobs to the state.

"Our highly competitive Michigan Business Tax will further bolster Michigan's position as a great place for businesses to grow," Granholm said.  "We can give companies the peace of mind of knowing what to expect on tax day - and we have made sure that Michigan's taxes will keep our businesses competitive and will help them create jobs."

The MBT is headed to Granholm's desk, and she is expected to sign it into law as soon as next week.  It will provide a tax cut for more than seven out of ten Michigan businesses and will help stimulate the state's economy by providing tax credits to companies that locate in Michigan or create new jobs in the state.  It benefits both small businesses and major manufacturers while providing the same amount of revenue as the Single Business Tax that it is replacing.  The new tax will build a secure future for the state by encouraging research and development and entrepreneurial ventures.

Granholm said the MBT is a critical part of the state's comprehensive economic plan, joining the 21st Century Jobs Fund, the Michigan Promise scholarship, and her "go anywhere, do anything" approach to bringing jobs to Michigan.  The 21st Century Jobs Fund is diversifying Michigan's economy and creating new jobs in cutting-edge industries like life sciences and alternative energy.  The Michigan Promise scholarship is giving all students the opportunity to continue their education beyond high school.  All of these tools help Granholm and her economic development team bring new businesses and new jobs to Michigan.
 
"We have so many great advantages here, we can recruit businesses worldwide," Granholm said.  "Our highly skilled workforce, some of the best colleges, universities and community colleges in the world, and a high quality of life make Michigan very attractive to businesses and to families.  Our highly competitive Michigan Business Tax will further bolster Michigan's position as a great place for businesses to grow and create jobs."

The governor's weekly radio address is released each Friday morning and may be heard on broadcast stations across the state through an affiliation with the Michigan Association of Broadcasters.  The address will also be available on the governor's web site on Mondays as a podcast for general distribution to personal MP3 players and home computers.

Broadcasters Note:  Governor Granholm's radio address can be accessed through Sunday evening exclusively through the Members Only page of the Michigan Association of Broadcasters Web site.

Publishers Note:  The text of today's address is attached.

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