Visteon would not be liable for any income taxes if it locates in Ohio, and other business costs are lower than in Michigan. The single business tax credit incentive was offered to offset this cost differential for the company.
"While we are still considering sites inside and outside of the state, granting us this incentive package brings us a step closer to deciding for Michigan," says Visteon president Michael Johnston.
The proposed $325-million new headquarters and research and development center would be located on a 220-acre property in Van Buren Charter Township near thejuncture of I-94 and I-275. The township recently approved a 12-year, $31-million tax abatement for Visteon.
In addition to the tax credit incentive, the state is recommending the Michigan Department of Transportation spend up to $5 million in needed public road improvements adjacent to the Van Buren Charter Township site.
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