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Incentive Programs

K. Scott Fleming, CEcD

CEO Contact

Brownfield Redevelopment

Benefit

Financial assistance is available to help offset the cost of redeveloping contaminated, blighted or functionally obsolete property. Utilizing tax increment financing, which captures the new property taxes generated by a development project, a business can be reimbursed on a dollar for dollar basis over time for certain Eligible Activities. Eligible Activities may include environmental site assessment & remediation, demolition, lead & asbestos abatement, site preparation and public infrastructure improvements.

Eligibility (not comprehensive)

Property must be contaminated, blighted, functionally obsolete, or owned by the Land Bank.
Additional Brownfield Redevelopment information available through the following State agencies:

Industrial Property Tax Abatement (P.A. 198)

Benefit

Industrial property tax abatements provide incentives for Michigan manufacturers to build new plants, expand existing plants, renovate aging plants or add new machinery and equipment. Also eligible for the abatement are high-technology operations defined as advanced computing, advanced materials, biotechnology, electronic device technology, engineering or laboratory testing, medical device technology, product research and development and advanced vehicles technology.

Eligibility (not comprehensive)

Each municipality may have their own policy and terms for the length of the abatement.Each municipality may have their own policy and terms for the length of the abatement.

Personal Property Tax Relief in Destressed Communities (P.A. 328)

Benefit

This abatement allows distressed communities, county seats and certain border county communities to abate personal property taxes by the full millage rate on new investments made by eligible businesses.

Eligibility (not comprehensive)

Cities, villages and townships that contain distressed areas (as defined under the Michigan State Housing Development Authority Act), and all county seats (as defined under the Neighborhood Enterprise Zone Act) are eligible to participate.

Michigan Works!

Benefit

To retain the current workforce, the Michigan Works! program offers several workforce assistance programs, including Employee Enhancement Training, through the Incumbent Worker Program. This program allows companies to spend up to $3,500 to train each employee, depending on the training program.

Eligibility (not comprehensive)

Services include screening and hiring services, on-the-job training funds, Worker Opportunity Tax Credits and ongoing training strategies. Past training programs have included computer skills, LEAN manufacturing, ISO and trade apprenticeships.

Utility and Energy Savings Programs

Benefit

Consumers Energy – Substantial business energy savings rebates are available for achieving energy efficiencies.

Eligibility (not comprehensive)

Eligibility depends on the location and service provider.

Western Michigan University (MWU) Green Manufacturing Initiative

This grant-funded program at WMU is designed to create more energy efficient and environmentally benign processes in order to enhance productivity and increase output of manufacturers. The team assigned to the initiative includes engineering students who provide the actual assessment and recommendations.

Procurement Technical Assistance Centers

Procurement Technical Assistance Centers (PTACs) of Michigan are your first step in getting government contracts and can assist your company throughout the entire process from start to finish: registering to become a government contract, identifying bid opportunities, walking you through and simplifying the bidding process, helping you to expedite payments through electronic invoicing and even helping you post award with the evaluation of contract awards.

The information provided above is only a summary of the most current information available. The Marshall Economic Development Alliance, Southwest Michigan First nor their affiliates assume any liability for its use in legal, tax, accounting or other professional matters. Please consult a tax specialist when considering all business ventures.

 

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