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State Hopes $51-Mil Package Lands $325-Mil HQ

VAN BUREN CHARTER TOWNSHIP, MI-A former gravel pit here may be the site for the automotive supplier. The township offers a $31-million tax abatement while the state is dangling a $15.7-million single business tax credit.

By Robert Carr | Updated on November 19, 2001

VAN BUREN CHARTER TOWNSHIP, MI-Governor John Engler says the Visteon Corp. has been awarded a single business tax credit of $15.7 million as an encouragement to establish the company’s world headquarters in Michigan. The state is in head-to-head competition with Toledo, OH, for the new facility and the jobs it will create.

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.

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