Michigan will bring back a research-and-development tax credit for businesses and launch a new fund to foster startup companies under bills signed into law by Gov. Gretchen Whitmer on Monday.

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Michigan restores R&D tax credit, launches startup fund under new laws

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Michigan will offer businesses up to $100 million a year in research and development tax credits and spend $60 million on startups under legislation signed Monday by Gov. Gretchen Whitmer.

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Bridge Michigan

Michigan looks to future with R&D tax credits, startup ‘innovation fund’

Governor Gretchen Whitmer’s recent signing of legislation to establish a research and development tax credit and an innovation fund marks a significant shift in Michigan’s economic landscape. The enactment of House Bills 5100 and 5101 introduces a tax credit that could see the Michigan Department of Treasury awarding up to $100 million annually, positioning the state alongside 36 others that have… Source

thefinancialanalyst.net

Michigan’s New R&D Tax Credit and Innovation Fund Aim to Boost Economy

Gov. Gretchen Whitmer (L) and Lt. Gov. Garlin Gilchrist (R) at the bill signings at Michigan Central in Detroit, Jan. 13, 2025 | Whitmer office photoIn the Newlab workspace at the newly renovated Michigan Central technology and innovation complex in Detroit, Gov. Gretchen Whitmer stood amongst machinery and tools Monday to showcase new laws aimed to support entrepreneurship and job growth in Michigan. By signing five bipartisan bills, Whitmer sa…

Michigan Advance

Whitmer signs laws creating research and development tax credits, new innovation fund • Michigan Advance

Michigan businesses could get more help from the state with getting off the ground and with research and development under new laws signed Monday by Gov. Gretchen Whitmer.One of the new policies allows companies to write off a portion of their R&D expenses on their taxes.Businesses with at least 250 workers could receive a tax credit of up to $2 million per year. Smaller ones could claim a credit of up to $250,000 annually.Michigan has been the …

Michigan restores R&D tax credit, launches startup fund under new laws

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