Warren Mayor offers GM long-term tax incentives to move headquarters to GM Tech Center

Jim Fouts, Warren Mayor, hand delivered a letter to General Motors’ CEO Fritz Henderson offering the company long-term tax incentives to move its headquarters from the Renaissance Center in Detroit to the GM Tech Center in Warren.

Fouts’ six-page letter proposes a 30-year personal property tax-break, the longest tax-break ever offered in the state and three times longer than Warren has ever proposed. He said the GM could save tens of millions of dollars as it looks to cut costs.

“I present this to you not as a choice between Detroit and Warren, but as a matter of GM moving forward and surviving,” Fouts’ letter said. “Restructuring implies cost-cutting, and this proposal is a prime example of cutting costs through consolidation.” 

The proposal said that the move would require no new construction and that Warren’s Downtown Development Authority would contribute funds to help with the move.

He said that GM’s Tech Center in Warren could easily accommodate the 4,300 employees working at its downtown Renaissance Center headquarters.

– By: Kap Shah

Source: Detroit News