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Wed August 27, 2014
State money used to attract events and conventions to Michigan
State money is being used to attract everything from a Jehovah's Witnesses convention in Detroit to an international soccer match in Ann Arbor.
Detroit Free Press business columnist Tom Walsh, notes that the Michigan Economic Development Corporation has spent more than a million dollars this year to bring in things like conventions and sporting events.
Walsh says it's a common practice and could generate a lot of state tax revenue from out-of-state visitors.
Walsh says the payback from the first few events is about $20 million in state tax revenue.
Tuesday the Michigan Strategic Fund OK'd another $1 million for the program through Sept. 15, 2015.
Read more in Tom Walsh’s article in the Detroit Free Press.
*Listen to the full story above.