Engler's energy blueprint proposes the creation of a 700-acre, tax-free NextEnergyZone in York Township near Ann Arbor, building the NextEnergy Center there and attracting alternative energy companies from around the world to the zone, making it a cluster of energy innovation.
He says the plan represents a turning point in history because it will help reduce America's dependence on foreign oil, improve the environment and strengthen the economy.
"The heart of NextEnergy is transforming our cluster of auto innovation into a cluster of energy innovation. NextEnergy will power Michigan's future," Engler says.
He notes the market for fuel cell products alone is expected to grow to an estimated $95 billion by 2010. In addition, he explains that not acting could put at risk nearly 200,000 Michigan jobs that are either directly or indirectly tied to the engineering and manufacture of engines and transmissions.
Engler's plan also includes NextEnergy tax incentives, which would be exemptions from the single business tax and personal property tax for companies, or activities within companies, whose primary focus is alternative energy research, development or manufacturing.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
