Michigan Democratic Gov. Gretchen Whitmer signed legislation establishing the Strategic Outreach and Attraction Reserve (SOAR) program—”a $1 billion economic development fund to ensure the state can compete for billions of dollars in investment and attract tens of thousands of jobs to bolster our economy,” according to the press release. Michigan’s legislative body allocated $1 billion in the beginning for this program. SOAR grants are awarded to companies that invest in the state or to state-affiliated organizations for their benefit.
In reality, SOAR is just another example of the growing trend in corporate welfare where states are giving away large sums of money from taxpayers to private companies. Michigan’s case should demonstrate to both taxpayers, and state governments, that only private companies are responsible for the costs associated with their development projects.
According to a spreadsheet, You can also read our article on Why The Michigan Department of Technology, Management, and Budget has allocated $2.166 billion for SOAR…
