©2017 Michigan Economic Development Corporation
The Michigan Emerging Technologies Fund (ETF) expands funding opportunities for eligible Michigan technology-based small businesses in the federal innovation research and development arena.
Financial assistance, available to small businesses currently located in Michigan, for energy efficiency upgrades and renewable energy project implementation.
Foreign Trade Zones (FTZs) are special economic zones in the U.S. where imported goods can be stored, distributed, processed, and used without being subject to customs duty. FTZs provide customs-related advantages to help U.S. companies compete in the global marketplace.
To assist in the development of a strong forest products industry in Michigan, Forest Products Processing Renaissance Zones (FPPRZ) were created to promote forest products operations in the state and to enhance the industry. Eligible forest products processing facilities located in the Zones are exempted from some state and local taxes.
Geographic Renaissance Zones are regions of the state designated as virtually tax free for any business or resident presently in or moving to a zone. The zones were designed to provide selected communities with a marketbased incentive of no state or local taxes to encourage new jobs and investment. As of December 31, 2011, time extensions and new subzones are no longer allowed.
A Historic Neighborhood Tax Increment Financing Authority may be established to fund residential and economic growth in local historic districts. An authority may also issue bonds to finance these improvements.
Industrial property tax abatements provide incentives for eligible businesses to make new investment in Michigan. These abatements encourage Michigan manufacturers to build new plants, expand existing plants, renovate ageing plants, or add new machinery and equipment. High-technology operations are also eligible for the abatement.
The Local Development Financing Act allows a city, village or urban township to utilize tax increment financing to fund public infrastructure improvements – such as sewer and water lines, and roads – to promote economic growth and job creation.
The Michigan Business Development Program is a new incentive program available from the Michigan Strategic Fund (MSF), in cooperation with the Michigan Economic Development Corporation (MEDC). The program is designed to provide grants, loans or other economic assistance to businesses for highly competitive projects in Michigan that create jobs and/or provide investment.
The Michigan Business Ombudsman Office provides impartial, independent and confidential assistance in resolving disputes and investigating complaints against state government agencies.
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