Lansing Approves Tax Exemption for GM Battery Plant
Dec. 22, 2021—The Lansing City Council on Monday unanimously approved an industrial tax exemption for General Motors and LG Energy Solution in an effort to lure a $2.5 billion battery cell facility to the city.
According to a report from The Detroit News, the approval was given at a special session a week after endorsing a renaissance development zone to the Michigan Strategic Fund as another incentive for GM and LG.
A renaissance zone exempts people and property from city-levied taxes, and in this case it would last 18 consecutive years starting in 2022 if approved by the Michigan Strategic Fund.
Michigan Gov. Gretchen Whitmer signed on the same day as the exemption approval a $1.48 billion spending plan that would attempt to lure economic development to the state after losing out on a multi-billion dollar investment from Ford's new EV facility.