A $136 million tax abatement to help persuade General Motors Corp. to build the Chevrolet Volt extended-range electric car at the Detroit/Hamtramck Assembly Plant won approval today from the Detroit City Council.
The council approved the measure on a 7-1 vote. Only Councilwoman JoAnn Watson voted no.
Watson said she voted no because the Detroit Three automakers are on the verge of receiving $25 billion in federal loans to aid them, and giving GM a tax break now doesn’t sit well with her.
Even with the tax break, the company would still generate an additional $4.6 million a year in tax revenue for the city and Detroit Public Schools, said Irvin Corley Jr., the council’s fiscal analyst.
If this tax approval means that there will be more jobs, then I am happy for GM's investment. Apparently, the timing couldn't have been better for the people of Detroit. Seems they are going through some tough times. Power to More Jobs!!!
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