©2017 Michigan Economic Development Corporation
SmartZones provide distinct geographical locations where technology-based firms, entrepreneurs and researchers locate in close proximity to all of the community assets that assist in their endeavors. SmartZone technology clusters promote resource collaborations between universities, industry, research organizations, government and other community institutions, growing technology-based businesses and jobs.
Eighteen state-of-the-art Michigan Technical Education Centers℠ (M-TECs) are located within the Michigan community college system. They provide an outstanding statewide educational, training, and workforce development infrastructure for Michigan's businesses.
The Neighborhood Enterprise Zone Program provides a tax incentive for the development and rehabilitation of residential housing in communities where it may not otherwise occur.
A Neighborhood Improvement Authority (NIA) may be established, and may use its funds for residential and economic growth in residential neighborhoods. An authority may also issue bonds to finance these improvements.
The Next Michigan Development Act was established by PA 275 of 2010 to encourage the creation of Next Michigan Development Corporations (NMDCs) to foster economic opportunities in the State of Michigan. NMDCs can grant incentives to new businesses and expanding businesses in Michigan.
Obsolete Property Rehabilitation Act provides for a tax incentive to encourage the redevelopment of obsolete buildings that are contaminated, blighted or functionally obsolete. The goal is to rehabilitate older buildings into vibrant commercial and mixed-use projects.
Personal Property Tax Relief in Distressed Communities allows distressed communities, county seats and certain border county communities to abate personal property taxes on new investments made by eligible businesses.
Private Activity Bonds are a source of financial assistance to economic development projects in Michigan. They provide profitable firms with capital cost savings stemming from the difference between taxable and tax-exempt interest rates.
Procurement Technical Assistance Centers (PTACs) assist companies in getting government contracts. They assist throughout the entire procurement process from pre-award to post-award.
The Liquor Control Commission may issue new public on-premises liquor licenses to local units of government for businesses located in either a Business District or City Redevelopment Area. These licenses are in addition to those quota licenses allowed by the Michigan Liquor Control Code.
300 N. Washington Sq., Lansing, MI 48913