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Federal Mogul: More Evidence that “Targeted Incentives” Don't Work
Gov. Granholm signs legislation authorizing targeted tax breaks for Federal Mogul. Her press release said the bill "Adds muscle to Michigan's economic development arsenal," and quotes the Michigan Economic Development Authority director as saying, "I fully expect that these changes will save thousands of jobs for Michigan’s families.” On April 11, 2006, the firm announced it will close its St. Johns plant, eliminating 420 jobs.