[CPEO-BIF] Detroit --$10 Million BF tax credit to Marathon Petroleum

[bobh@np.craigslist.org]

$10 Million Brownfield State Tax Credit To Support Major Expansion of Marathon
Petroleum Refinery in Detroit, Michigan

DETROIT, Mich. (October 24, 2007) ? The city of Detroit has approved a 23-year
abatement valued at an estimated $174 million to support the project.

Two major redevelopments in Detroit, Mich., will attract more than $1.5 billion in
new investment and create as many as 205 new jobs. The projects will benefit from
assistance provided by the Michigan Economic Development Corp.

Michigan economic development officials recently announced a $10 million brownfield
state tax credit that will support a proposed $1.5 billion expansion of the
Marathon Petroleum Co. LLC (MPC) refinery in southwest Detroit. MPC, based in
Findlay, Ohio, will construct the expansion on a 22-acre site adjacent to the
existing refinery. The site was formerly the location of a steel plant.

For the entire article, see:
http://www.expansionmanagement.com/smo/articleviewer/default.asp?cmd=articledetail&articleid=19214&st=5

Bob Hersh
CPEO

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