Senate votes to keep funding high-tech jobs fund

By: Associated Press Email
By: Associated Press Email

LANSING, Mich. The Michigan Senate has voted to continue using $75 million a year from the state's settlement with tobacco companies and putting it into an economic development fund.

Current law provides money for the 21st Century Jobs Trust Fund through the 2015-16 budget year. Legislation approved 33-4 by the Republican-led Senate on Thursday would provide $75 million a year for three additional years.

The 8-year-old fund aims to encourage economic diversification and high-tech job creation in the life sciences, advanced manufacturing and defense industries.

Michigan lawmakers in 2005 approved selling part of the state's tobacco settlement to gain $1 billion to invest in up-and-coming industries. Critics question if enough jobs have been created.

The bill now goes to the House.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WNDU - Channel 16 54516 State Road 933 South Bend, IN 46637 Front Desk: 574-284-3000 Newsroom: 574-284-3016 Email: newscenter16@wndu.com
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 230094601 - wndu.com/a?a=230094601