DETROIT -- Bragging rights are worth more than you think.
Michigan and Illinois are rolling out the incentives for the BorgWarner Inc. headquarters. Only 60 jobs are involved, but corporate headquarters are a gauge of a local economy's health, and the benefits of corporate giving and job attraction could last years.
That's why Michigan and Illinois are packaging incentives to attract and keep the auto supplier's headquarters. The Michigan Economic Development Corp. said it is discussing a possible incentive package to lure BorgWarner from its Chicago headquarters.
Crain's Chicago Business reported July 21 that Illinois and the city of Chicago put together an "aggressive" $2 million incentive proposal to keep BorgWarner. The company leases about 34,000 square feet on Michigan Avenue in Chicago.