Gov. Whitmer-Appointed Board Approves $715 Million Contract for CCP-Affiliated Company

The Michigan Strategic Fund (MSF) board, appointed by Democrat Gov. Gretchen Whitmer, approved $715 million in grants and tax exemptions on Wednesday for a battery manufacturer with deep ties to the Chinese Communist Party (CCP).

The SMF board, chaired by Quentin Messer and comprised of 11 members appointed by Whitmer, reportedly approved the Renaissance Zone tax exemption request and handed $175 million in state grants to a China-based company named Gotion Inc, and its billionaire chairman, who has deep ties to the CCP, in order to build a $2.4 billion electric vehicle battery parts facility in the outer part of Big Rapids.

In total, as the Detroit News reported, the $715 million in grants and tax exemptions include:

The property tax exemption granted by the board for the Michigan Economic Development Corp. will save the company $540 million over a 30-year period, according to estimates. The approval comes after three local government boards last week unanimously approved the Renaissance Zone request for the project that’s expected to create 2,350 jobs over the next decade [Emphasis added].

The $175 million in grant funding is made possible through new programs the state Legislature created at the end of 2021 to spur economic development in the state.

(Read more from “Gov. Whitmer-Appointed Board Approves $715 Million Contract for CCP-Affiliated Company” HERE)

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