Michigan’s big business deals: Do they really pay off?

Michigan spent over $1. 8 billion helping big companies with tax breaks and cash awards since 2022. The goal? Bring jobs and investments to the state. So far, only a fraction of those promises have turned into real hiring. In 2025, just 1, 846 jobs were created by companies getting SOAR funds—far below the 14, 559 jobs they originally promised. One company, Solar Technology LLC, even beat its job goals, hiring 1, 244 workers for a new solar factory in Saginaw County. But others, like Ford and General Motors, scaled back plans after changing markets and shifting priorities. The slow start isn’t surprising to some. Big projects like factories take years to build and hire. But critics question whether the billions spent are worth it. Lawmakers recently cut SOAR’s funding entirely, showing growing skepticism. Some argue that throwing money at companies doesn’t guarantee success, especially when industries change fast. Others point out that deals like GM’s—where the state’s $120 million award was transferred to LG Energy—raise questions about accountability.Not all projects are moving forward. Gotion Inc. lost its $175 million deal after failing to meet deadlines, and Ford paused its Marshall battery plant before downsizing. Meanwhile, Our Next Energy laid off workers and scaled back its factory plans. These setbacks highlight the risks of betting big on uncertain industries like electric vehicles. Still, supporters say the investments will pay off long-term. The MEDC insists these projects bring more than just jobs—they boost local businesses, construction, and future opportunities. But with public frustration growing and lawsuits piling up, the state faces tough choices. Should Michigan keep gambling on high-cost deals, or demand stricter results before writing more checks?