Caswell Shows Positive Effects Of Business Tax Reforms
Monday, June 13, 2011
LANSING – Since the passage of the business tax reform law last month, Senator Bruce Caswell has fielded many inquiries from citizens on whether the changes will generate new jobs and help the economy. He recently had a conversation with Jeff Wilcox, Director of Operations for Drews Place Assisted Living Communities, about the effect the new business tax would have on his business. Mr. Wilcox indicated that with the elimination of the Michigan Business Tax and moving to a more equitable corporate income tax, his company looks to expand in Tecumseh in the next several months.
“We are much more comfortable with moving ahead on our Tecumseh project under the new business tax climate in Michigan,” said Wilcox. “We hope to break ground in late summer on our new facility, which will ultimately create 35-45 new jobs.”
The business tax reform package enacted in May eliminates the Michigan Business Tax and implements a new corporate business tax that has a significantly reduced tax burden on small businesses, the main driver of economic growth in Michigan.
“I applaud the entrepreneurial spirit of Drews Place and other local businesses that are willing to invest in our communities even in light of the difficult economic times we face as a state”, Caswell said. “Nearly 80% of Michigan jobs stem from small businesses and these tax changes will help spur Michigan’s recovery by helping small businesses to succeed. As I have said many times, if we invest in our own people, they will keep jobs here and continue to grow their business in our communities.”
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