Business Services Industry
Don't give away the store for Kmart jobs.(Opinion)(tax credits)(Brief Article)
Crain's Detroit Business, November, 2004
How much is Kmart Corp.'s Troy headquarters worth to the economy of Southeast Michigan? Michigan government officials were willing to extend about $45 million in tax incentives to keep the headquarters in Troy. That was before the announcement last week that Kmart was buying Sears, Roebuck and Co.
and moving the HQ to Sears' in suburban Chicago. But as Amy Lane reports on Page 1, the $45 million is just part of what has been offered Kmart in the past six years, including $30 million in tax credits in 1998 and 2000, job training grants and other assistance. Add it all up, and the potential tax-incentive tab came to more than $76 million. This should give Michigan development officials pause. We suggest a serious assessment of tax incentives offered by the...
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