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Asset Acceptance LLC, a subsidiary of Warren, Mich.-based debt buyer Asset Acceptance Capital Corp., last week announced it has signed an agreement in which the Michigan Economic Growth Authority will provide tax credits to the company to support job-creation initiatives at its Warren facility. The Michigan Economic Development Corp. estimates the agreement will create more than 600 jobs, including more than 430 directly by the company. Based on the development group's recommendation, the Michigan Economic Growth Authority board last month approved a state tax credit valued at $2.7 million over seven years to help convince the company to locate in Michigan over a competing site in Ohio. Besides the state tax credit, the city of Warren recently approved a six-year property-tax abatement for Asset Acceptance valued at $172,305. Asset Acceptance says it plans to invest $8.1 million to expand core competencies while building analytical and technical capabilities.
