MichiganRadio

Tax Credits Keep GM Headquarters in Downtown Detroit LANSING, MI (MPRN) -

A state board has approved tax credits to help ensure that General Motors keeps its headquarters at the Renaissance Center in Detroit.

Company officials told the Michigan Economic Growth Authority that without the tax break, the company might have to move its headquarters out of the city. The deal calls for GM to keep at least 25 hundred of the four thousand workers employed at its world headquarters.

Governor Granholm says she supports the authority's decision.

"The city benefits enormously from having the employees there at the Renaissance Center, but there's also - it's iconic, it is, it's a symbol, and for it to abandon Detroit would send a terrible message, I think," says Granholm.

GM officials objected to the provision requiring the company to keep at least 25 hundred employees in the city. The governor and state economic development officials indicated that number might have to be renegotiated. © Copyright 2012, MPRN