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June 11, 1981 - Image 10

Resource type:
Michigan Daily, 1981-06-11

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Page 10-Thursday. June 11 1981--The Michigan Daily

City not
eligible for
(Continued from Page 3)
The new defense policy came about
as a result of the Northeast-Midwest
Senate and Congressional Coalitions'
successful fight to amend the Maybank
Amendment, which "for, 35 years
prevented contract procurement by
businesses in economically distressed
areas," Mike Russell, a Riegle aide,
ACCORDING TO Smith, an amen-
dment to the Maybank legislation was
forged giving "labor surplus areas" a
five percent advantage over. regions
with healthier economies. For exam-
ple, "if a Detroit firm bid four dollars
for a (defense-related) contract and a
Houston firm bid five dollars, the
Detroit firm would get the contract,"
Smith said.
"This program will definitely benefit
Michigan," Smith continued, "but we
have to have the industries and sup-
pliers to do it.
"WE HAVE A good base, but we're
trying to create a diversification,
something like Silicon Valley in
California," Smith said.
Smith doubts the program will bring
entrepreneurs into the state, but feels
that the plan "will keep existing
businesses from moving."
A possible corollary to the Pentagon
contract targeting program is the in-
stitution of "enterprise zones," Smith
noted, adding there is "a very good
chance that an enterprise zone bill will
be passed this year."
Asserting that enterprise zone
legislation - a plan co-sponsored by
Riegle - is "very important," Smith
explained that it "provides incentives
to businessmen to relocate to
economically distressed regions by ac-
celerating depreciation rates, offering
tax credits, and reducing the capital
gains tax for businesses that relocate."



Daily Photo by PAUL ENGSTROM
.A little night music
Some of the members of "Climax House" enjoy the summer nights with a little home-made music. Paul Dowhal, John
Spiese'r, Kat Kalajian, Sue Penoyar and an unidentified guest pay tribute to the music of Sanata.

In accordance with the Program- Discon-
tinuance Guidelines and in response to
the recommendation of the Dean and Ex-
ecutive Committee of the College of Lit-
erature, Science and the Arts to close
the Department of Geography:
B. E. Frye,
Vice President for Academic Affairs
has held an Open Forum
and will be available
for private discussions
on the
Department of Geography
June 15-3:00-5:45
Call Mrs. Schleede, 764-9290
for an appointment

764-0558 MWIM


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