Audit: Michigan fund reports erroneous job-creation data
LANSING — The state’s Michigan Strategic Fund overstated job-creation data by companies that have received grants through government incentive programs, according to a state audit released this week.
Companies getting grants under the 21st Century Job Trust Fund's Centers of Energy Excellence Program met 19 percent of original employment projections, the report from Auditor General says.
The Strategic Fund told the Legislature the companies created 75 percent of the jobs promised.
The report says officials should have provided lawmakers with updated information and verified employment numbers.
The program distributed about $64 million to 12 companies as of March 31.
Development agency chief executive Michael Finney called the errors an "oversight."
"MEDC is committed to transparency and takes very seriously our responsibility to keep citizens informed about programs and incentives supported by their tax dollars," Finney said.
The Strategic Fund said it will "take steps to consistently report accurate program information," the Detroit Free Press reports.