Come build in Motown: Granholm signs bill offering tax-credit to battery makers

Michigan Governor Jennifer Granholm signed a new bill into law on Wednesday that will provide $335 million in refundable tax credits to encourage companies to develop and build advanced-batteries in Michigan for hybrids and electric-cars.

“We want Michigan to be positioned as the battery capital of the world,” Granholm told reporters at the 2009 Detroit Auto Show.

Granholm is hoping that the new bill will attract one of the fastest growing sectors in the industry to Michigan. She said that the battery sector could create as many as 50,000 jobs. Granholm is hoping that Michigan can attract as much of the market as possible.

Source: Detroit News