MI approves tax incentives to add jobs at Dow Chemical

LANSING, Mich. (AP) - Michigan has approved amended tax incentives so Dow Chemical has more time to add jobs and AK Steel can qualify for tax credits following a merger.
The deals OK'd Tuesday by the Michigan Strategic Fund Board impose new caps on the tax credits at $61.4 million for Dow and at $20.3 million for the steelmaker.
Economic development officials say the AK Steel agreement reduces Michigan's estimated liability by about $23 million.