Michigan’s 15-Month Pursuit for $100 Billion Semiconductor Deal Fails as Micron Chooses New York

Michigan’s 15-month pursuit to attract Micron Technology and secure a semiconductor manufacturing plant in Eagle Township fell short after a 15-month pursuit after Micron ultimately chose New York as its preferred location.

Michigan’s 15-month pursuit to attract Micron Technology and secure a semiconductor manufacturing plant failed Micron ultimately chose New York. (Photo: Micron Tech)

Michigan’s 15-Month Pursuit Fails

According to the Detroit News, Micron ultimately chose New York as its preferred location which made Michigan’s 15-month pursuit fail.

The Empire State managed to entice the company with a staggering $6 billion in incentives, aiming to generate nearly 50,000 jobs over a span of 20 years, according to a press release, a polished news article reported.

The estimated value of the semiconductor manufacturing campus was an impressive $100 billion over two decades.

Although Michigan officials remain tight-lipped about the exact amount of taxpayer money offered to Micron, The News disclosed that numerous state and local officials signed nondisclosure agreements, preventing the public from knowing the full extent of Michigan’s financial proposal.

Since 2020, over 40,000 residents have left the Great Lakes State, highlighting the urgency to revitalize its economy.

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Michigan’s 15-Month Pursuit: Does the State Not Secure the Deal?

John Mozena, president of the Center for Economic Accountability, a nonprofit organization advocating for transparent economic development policy, expressed relief that Michigan did not secure this particular Michigan’s 15-month pursuit deal.

Mozena emphasized that Michigan already bears the burden of numerous ill-advised economic development agreements, which taxpayers will continue to shoulder for decades.

The failed Michigan’s 15-month pursuit of the semiconductor project occurred just weeks before the November 2022 election, raising questions about the motivations of economic development agencies and politicians. Mozena wondered whether these entities prioritize their own political gains or genuinely act in the best interests of the taxpayers.

Mozena concluded by emphasizing the critical role of transparency, asserting that the average person does not believe that deals benefiting elected officials would be turned down merely due to questionable returns on investment for taxpayers. He stressed that transparency is paramount in promoting accountability and ensuring that the best interests of the public are protected which he believes did not happen in Michigan’s 15-month pursuit.