The Michigan Economic Development Corporation (MEDC), in partnership with the Michigan Department of Agriculture & Rural Development (MDARD), offers multiple programs to help support the financing and growth of agricultural businesses in the State of Michigan. Michigan is an international leader in the agriculture industry, and MDARD and MEDC are committed to supporting the continued growth of the industry within the state. MDARD and the MEDC offer loan assistance to help businesses gain access to financing through private lenders, including banks and credit unions. The programs are designed to enhance a borrower’s financial position to meet standard loan requirements.
Michigan has a vibrant food and agricultural industry and is second in our nation in the variety of commodities grown for market. Agricultural Processing Renaissance Zones (APRZs) were created to promote agricultural processing operations in the State of Michigan and to enhance the industry overall. These APRZs differ from Michigan’s original renaissance zones because they require them to contain a company’s agricultural processing facility and can be located anywhere in Michigan.
Eligible new warehouse, distribution, or logistics facilities that locate in a county that borders another state or Canada may qualify for tax incentives.
The creation of a Brownfield Redevelopment Authority allows local decision-making in the various aspects of Brownfield redevelopment.
Map showing regions of Business Development Managers (BDMs).
A Business Improvement District/Principal Shopping District provides business with the opportunity to come together and use their expertise, experience and financing to improve the marketing, infrastructure and operational aspects of their business area, each of which has an impact on their individual businesses.
The Capital Access Program (CAP), administered for the Michigan Strategic Fund (MSF) by the Michigan Economic Development Corporation (MEDC), is an innovative program available to assist businesses with capital needs. The CAP uses small amounts of public resources to generate private bank financing, providing small Michigan businesses access to capital that might not otherwise be available.
Map showing the Community Development Block Grant (CDBG) team assignment areas.
This fact sheet describes the Certified Business Parks program, jointly administered by the Michigan Economic Developers Association (MEDA) and the Michigan Economic Development Corporation.
This program encourages the replacement, restoration and new construction of eligible commercial property by abating the property taxes generated from new investment for a period up to 12 years.
This program encourages rehabilitation of eligible commercial property 15 years or older by abating the property taxes generated from new investment for a period up to 10 years. The primary purpose of the facility must be for operation of a commercial business enterprise or multifamily residential use.
Map showing the Community Assistance Team Specialist assignment areas.
The Michigan Strategic Fund (MSF), in cooperation with the MEDC, administers the economic and community development portions of the CDBG program. CDBG is a federal grant program utilizing funds received from the U.S. Department of Housing and Urban Development (HUD). This fact sheet provides a broad overview of the business development portions of the program that the MEDC administers, including Direct Assistance to Business and Infrastructure: Business Development.
The Michigan Strategic Fund (MSF), in cooperation with the MEDC, administers the economic and community development portions of the CDBG program. CDBG is a federal grant program utilizing funds received from the U.S. Department of Housing and Urban Development (HUD). This fact sheet provides a broad overview of the community development portions of the program that the MEDC administers, including Blight Elimination, Façade Improvements, Downtown Public Infrastructure and Signature Building Acquisition.
The Revolving Loan Fund (RLF) portion of Michigan's CDBG Program has a specific focus: lending to small businesses that are unable to secure competitive financing traditionally, but will meet a national objective of the CDBG Program. The program provides funds through either existing RLFs based within a specific Unit of General Local Government (UGLG) or through newly established Regional RLFs.
Community Ventures is an effort led by the MEDC to help structurally unemployed individuals pursue career opportunities at Michigan companies. Support and resources will be provided to ensure both employers and talent are well matched.
Eligible cities and townships may enter into conditional land use transfer statute that allows one municipality the option of conditionally transferring land to another, thus gaining access to certain economic and community development incentives.
The MIOSHA-CET Division educates employers and employees in safety and health awareness so they are better prepared to recognize, control and prevent hazardous working conditions. CET provides workplace safety and health training and consultations to employers and employees throughout Michigan at no charge.
To spur private development in its urban communities and traditional centers of commerce, the Core Communities designation target critical needs of older communities through new housing development, redevelopment of obsolete facilities and development of contaminated properties. The Core Communities designation provides the community with three economic development tools: brownfield redevelopment incentives, neighborhood enterprise zones, and rehabilitation exemptions.
The Corridor Improvement Authority assists communities with funding improvements in commercial corridors outside of their main commercial or downtown areas.
Downtown Development Authority (DDA) act is a catalyst in the development of a community's downtown district and provides for a variety of funding options including tax increment financing mechanism, and the ability to levy a limited millage to address administrative expenses.
The Michigan Emerging Technologies Fund (ETF) expands funding opportunities for eligible Michigan technology-based small businesses in the federal innovation research and development arena.
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.
