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An editorial in today's Midland Daily News says a study about the failures of the Michigan Economic Development Corp. should be "required reading" for legislators.
The study authored by Mike LaFaive, fiscal policy director, and James Hohman, fiscal policy analyst, details the history of the MEDC and uncovers that its subsidies, tax credits and other corporate favors results in less than one-third of the jobs it claims to create.
The Daily News also quotes LaFaive regarding the Michigan film incentive and the fact that Michael Moore's latest movie — a harangue of corporations that took bailout money — applied for a state film subsidy.
LaFaive also told The Grand Rapids Press today that Michigan's third-place finish in the "Governor's Cup" awarded by Site Selection Magazine shouldn't be taken seriously be economists because the rankings are based on self-reporting by the states, as opposed to objective measures.
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