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Google Jobs Lacking, Yet Some Locals Still Consider It a 'Badge of Honor' for Ann Arbor
Michigan Capitol Confidential ^ | 5/17/2010 | Tom Gantert

Posted on 05/17/2010 1:46:40 PM PDT by MichCapCon

In 2006, Google's announcement that it was opening an AdWords office in Ann Arbor was trumpeted as the start of the transformation of a suffering Michigan economy.

The Michigan Economic Development Corp. lured the Internet giant to Ann Arbor with a 20-year tax credit valued at more than $38 million. The city of Ann Arbor also gave it up to 400 free parking spaces for four years in a city where parking spots are much in demand. Based on current costs for a spot in an Ann Arbor parking structure, the parking deal would be worth $633,600 a year to Google if all the spots are used.

For that lucrative deal, Gov. Jennifer Granholm said Google would bring in 1,000 direct and 1,200 spinoff jobs in its first five years. An MEDC press release stated, "Granholm said the Google decision is just the latest evidence that her economic recovery plan is beginning to deliver dividends of increased investment by high-tech companies that mean well-paying jobs for Michigan."

Yet, four years into the deal, few of the parties involved in the deal will talk about Google's performance in job creation since the announcement.

According to the MEDC, Google brought in 163 jobs in 2007 and then 61 in 2008, far short of the 200-a-year pace needed to meet the 1,000 jobs Granholm said the deal would yield. Using the MEDC's tax credit formula, it is estimated Google received about $800,000 in tax credits for 2007 and 2008 for the 224 jobs...

(Excerpt) Read more at michigancapitolconfidential.com ...


TOPICS: Business/Economy; Government; Local News; Politics
KEYWORDS: capitalism; crony; jobs; michigan

1 posted on 05/17/2010 1:46:41 PM PDT by MichCapCon
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To: MichCapCon

Hurricane Jenny gets it wrong again.


2 posted on 05/17/2010 2:12:01 PM PDT by gigster
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To: grellis
Thanks MichCapCon.
3 posted on 05/18/2010 5:45:41 PM PDT by SunkenCiv ("Fools learn from experience. I prefer to learn from the experience of others." -- Otto von Bismarck)
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