Michigan Economic Development Corporation Fact Sheets

Advanced Battery Credits

Tue, 15 Jun 2010 06:00:00 GMT

Michigan’s Advanced Battery Credits initiative supports the development and manufacturing of advanced batteries and the commercialization of advanced battery technologies. The initiative includes incentives for battery cell manufacturing, pack engineering/ integration, and development of engineering and advanced technologies focused around advanced battery systems.

Agricultural Processing Renaissance Zones

Fri, 16 Jan 2009 07:00:00 GMT

Agricultural Processing Renaissance Zones promote agricultural processing operations in Michigan and to enhance the industry overall. Eligible agricultural processing facilities located in the Zones are exempted from some state and local taxes.

Anchor District Credit

Wed, 09 Jun 2010 06:00:00 GMT

The Anchor District credit diversifies Michigan’s economy while creating significant value chain jobs. A qualified, high-technology anchor company can claim a credit of up to 5% of the taxable value of certain investments made by customers or suppliers within a 10-mile radius of the anchor company facility.

Anchor Jobs Credit

Wed, 09 Jun 2010 06:00:00 GMT

The Anchor Jobs credit diversifies Michigan’s economy while creating significant value chain jobs. A qualified high-technology anchor company is able to claim a credit for the payroll of the customers or suppliers who create qualified new jobs.

Border County Incentives

Fri, 10 Apr 2009 06:00:00 GMT

Eligible new warehouse, distribution, or logistics facilities that locate in a county that borders another state or Canada may qualify for tax incentives.

Brownfield Redevelopment Authority (P.A. 381)

Fri, 07 Nov 2008 07:00:00 GMT

Brownfield Tax Incentives

Tue, 15 Jun 2010 06:00:00 GMT

Brownfield Tax Incentives promote the redevelopment of brownfield sites through tax credits against the Michigan Business Tax. Eligible projects may redevelop a contaminated, blighted or functionally obsolete property.

Business Improvement District / Principal Shopping District / Business Improvement Zone (BID/PSD/BIZ)

Mon, 25 Jan 2010 07:00:00 GMT

Capital Access Program

Fri, 23 Jan 2009 07:00:00 GMT

Community Assistance Team (CATeam) - Specialist Map

Wed, 14 Apr 2010 06:00:00 GMT

Community Development Block Grant (CDBG) - Downtown Public Infrastructure

Fri, 30 Jul 2010 06:00:00 GMT

The Community Development Block Grant (CDBG) - Downtown Public Infrastructure portion of the program provides special funding initiatives in traditional downtowns for eligible infrastructure improvements that are tied to new commercial/mixed-used development activities, which require the additional infrastructure to create new economic opportunities and job creation activity within a downtown.

Community Development Block Grant (CDBG) - Blight Elimination

Fri, 30 Jul 2010 06:00:00 GMT

The Community Development Block Grant (CDBG) - Blight Elimination program provides grants for property acquisition, clearance/demolition, historic preservation, and building rehabilitation to assist in the elimination of spot blight that is not located in a designated slum or blighted area.

Community Development Block Grant (CDBG) - Downtown Facade Improvements

Fri, 30 Jul 2010 06:00:00 GMT

Development Block Grant (CDBG) - Facade improvements grants are available for communities that seek to target areas of traditional downtowns for facade improvements which will have a significant impact on the downtown/community.

Community Development Block Grant (CDBG) - Farm-to-Food

Tue, 20 Apr 2010 06:00:00 GMT

Community Development Block Grant (CDBG) – Farm-to-Food grants are available for eligible small cities, townships, and villages of less than 50,000 in population, and counties with a population of 200,000 or less to construct, rehabilitate, acquire, expand or improve a facility for the support of a three- or four-season farmers market.

Community Development Block Grant (CDBG) - Signature Building Acquisition Grant

Fri, 30 Jul 2010 06:00:00 GMT

The Community Development Block Grant (CDBG) - Signature Building Acquisition Grant program enables a community to secure a building that is a focal point within the downtown for commercial rehabilitation purposes that will result in job creation and would become an asset to the overall downtown area.

Centers of Energy Excellence (COEE) Program

Mon, 08 Feb 2010 07:00:00 GMT

Centers of Energy Excellence grants promote the development, acceleration, and sustainability of energy sectors in Michigan.

Certified Business Parks

Wed, 14 Jan 2009 07:00:00 GMT

This fact sheet describes the Certified Business Parks program, jointly administered by the Michigan Economic Developers Association (MEDA) and the Michigan Economic Development Corporation.

Chief Compliance Officer, The Office of the

Thu, 05 Nov 2009 07:00:00 GMT

Describes the mission and responsibilities of the Office of the Chief Compliance Officer (Michigan Strategic Fund and the Strategic Economic Investment and Commercialization).

Commercial Redevelopment Act (P.A. 255)

Fri, 22 Jan 2010 07:00:00 GMT

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.

Commercial Rehabilitation Act (P.A. 210)

Thu, 11 Feb 2010 07:00:00 GMT

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.

Community Development Block Grant (CDBG) Program

Fri, 16 Apr 2010 06:00:00 GMT

Community Development Block Grant (CDBG) program provides grants to eligible counties, cities, villages, and townships, usually with populations under 50,000, for economic development, community development, and housing projects.

Conditional Land Use Transfer (P.A. 425)

Thu, 11 Feb 2010 07:00:00 GMT

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.

Consultation Education Training (CET) Services - MIOSHA

Wed, 29 Oct 2008 06:00:00 GMT

Core Communities

Wed, 01 Sep 2010 06:00:00 GMT

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.

Corridor Improvement Authority (P.A. 280)

Tue, 18 Nov 2008 07:00:00 GMT

The Corridor Improvement Authority assists communities with funding improvements in commercial corridors outside of their main commercial or downtown areas.

Defense Contract Coordination Center (DC3)

Fri, 25 Jun 2010 06:00:00 GMT

The Defense Contract Coordination Center and the Procurement Technical Assistance Centers (PTACs) work together to increase the number of Michigan companies winning federal contracts.

Defense Contracting Michigan Business Tax (MBT) Credits

Wed, 05 Nov 2008 07:00:00 GMT

The Defense Contracting Michigan Business Tax (MBT) Tax Credits diversify Michigan's economy and to create significant value chain jobs by helping Michigan companies procure federal contracts from the Department of Defense, Department of Energy, or the Department of Homeland Security.

Downtown Development Authority

Mon, 29 Mar 2010 06:00:00 GMT

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.

Economic Development Job Training (EDJT) Program

Wed, 01 Oct 2008 06:00:00 GMT

The Economic Development Job Training program ensures that Michigan has the training resources to retain and attract business and people to move into the 21st century with a highly skilled workforce Employee Training Under Michigan's Economic Development Job Training (EDJT).

Emerging Technologies Fund (ETF)

Fri, 05 Sep 2008 06:00:00 GMT

The Michigan Emerging Technologies Fund (ETF) expand funding opportunities for eligible Michigan technology-based small businesses in the federal innovation research and development arena.

Environmental Assistance Program

Wed, 14 Jan 2009 07:00:00 GMT

Equity Capital

Fri, 13 Mar 2009 06:00:00 GMT

This fact sheet gives the basic of equity capital, and includes a list of resources for firms looking for equity capital investment.

Forest Products Processing Renaissance Zones

Tue, 03 Feb 2009 07:00:00 GMT

Forest Product Renaissance Zones promote forest product operations in Michigan and to enhance the industry overall. Eligible agricultural processing facilities located in the Zones are exempted from some state and local taxes.

Historic Neighborhood Tax Increment Financing Authority (HNTIF)

Fri, 07 Nov 2008 07:00:00 GMT

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 Abatement (P.A. 198)

Thu, 26 Feb 2009 07:00:00 GMT

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.

Local Development Financing Act (LDFA) (P.A. 281)

Mon, 29 Mar 2010 06:00:00 GMT

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.

Michigan Economic Growth Authority (MEGA) - High-Tech and High-wage Tax Credits

Thu, 10 Jun 2010 06:00:00 GMT

High-Tech Michigan Economic Growth Authority (MEGA) program promotes the development of high-tech businesses in both traditional and emerging industries by providing a tax credit against the Michigan Business Tax and assist in the diversification of Michigan's economy.

Michigan Economic Growth Authority (MEGA) - Retention Tax Credits

Thu, 19 Mar 2009 06:00:00 GMT

Michigan Economic Growth Authority (MEGA) retention tax credits assist Michigan companies that are considering a business closure by awarding a tax credit against the Michigan Business Tax. Eligible companies are those in manufacturing, mining, research and development, wholesale and trade, film and digital media, office operations, or certain tourism projects.

Michigan Economic Growth Authority (MEGA) - Standard and Rural Job Creation Tax Credits

Thu, 06 May 2010 06:00:00 GMT

Michigan Economic Growth Authority (MEGA) is Michigan's response to interstate competition for company expansions and relocations. It may provide a refundable tax credit against the Michigan Business Tax to eligible companies expanding or relocating their operations in Michigan.

Michigan Business Ombudsman

Thu, 09 Apr 2009 06:00:00 GMT

The Michigan Business Ombudsman Office provides impartial, independent and confidential assistance in resolving disputes and investigating complaints against state government agencies.

Michigan Business Tax (MBT) - Booklet

Wed, 01 Apr 2009 06:00:00 GMT

Describes the Michigan Business Tax and credits against it that may be available.

Michigan Business Tax (MBT) - Overview

Wed, 01 Apr 2009 06:00:00 GMT

Describes the Michigan Business Tax.

Michigan Collateral Support Program

Mon, 29 Jun 2009 06:00:00 GMT

The Michigan Collateral Support Program supplies cash collateral accounts to lending institutions to enhance the collateral coverage of borrowers. To be eligible, the company must fall under the definition of a firm which may be eligible for a Michigan Economic Growth Authority tax credit.

Michigan Loan Participation Program

Mon, 29 Jun 2009 06:00:00 GMT

The Michigan Loan Participation Program participates with lenders to finance diversification projects when faced with eligible borrower companies whose projected cash flows are considered speculative by the lender.

Michigan Manufacturing Technology Center (MMTC)

Thu, 09 Apr 2009 06:00:00 GMT

Michigan NextEnergy Authority

Thu, 10 Jun 2010 06:00:00 GMT

The Michigan NextEnergy Authority (MNEA) promotes the development of alternative energy technologies and provides tax incentives for business activities and property related to the research, development and manufacturing of those technologies.

Michigan Talent Bank

Wed, 25 Feb 2009 07:00:00 GMT

The Michigan Talent Bank is the state’s online recruitment and career advancement source that helps employers to at¬tract, connect with and hire the best employees .

Michigan Technical Education Centers (M-TEC)

Tue, 18 Nov 2008 07:00:00 GMT

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.

Michigan Timely Application & Permit Service (MiTAPS)

Thu, 08 Jan 2009 07:00:00 GMT

Neighborhood Enterprise Zone

Mon, 29 Mar 2010 06:00:00 GMT

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.

Neighborhood Improvement Authority

Wed, 05 Nov 2008 07:00:00 GMT

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.

Obsolete Property Rehabilitation Act (OPRA)

Wed, 24 Mar 2010 06:00:00 GMT

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 (P.A. 328)

Thu, 11 Feb 2010 07:00:00 GMT

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 Bond Program (former IDRB)

Wed, 14 Jan 2009 07:00:00 GMT

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 (PTAC)

Fri, 20 Mar 2009 06:00:00 GMT

Procurement Technical Assistance Centers (PTACs) assist companies in getting government contracts. They assist throughout the entire procurement process from pre-award to post-award.

American Recovery & Reinvestment Act (Recovery Act) – for Businesses

Fri, 25 Sep 2009 06:00:00 GMT

American Recovery & Reinvestment Act (also known as ARRA) describes areas of opportunity for businesses: contracting with state and local government to provide goods and services to public projects, competitive grant opportunities for specific and non-recurring projects, adjustments and enhancements to existing loan and tax programs.

American Recovery & Reinvestment Act (Recovery Act) - for Communities

Sun, 24 Jan 2010 07:00:00 GMT

American Recovery & Reinvestment Act (also known as ARRA) describes many opportunities for communities and economic development. In addition to the creation of several new programs, existing programs have been provided additional funding or flexibility.

Michigan - Ready for Alternative Energy

Fri, 25 Sep 2009 06:00:00 GMT

American Recovery & Reinvestment Act (Recovery Act) – Recovery Zone Bonds

Mon, 21 Sep 2009 06:00:00 GMT

American Recovery & Reinvestment Act (also known as ARRA) creates two new categories of bonds to provide reduced rate financing and stimulate economic growth in Recovery Zones: 1) Recovery Economic Development Bonds (for governmental borrowers) and 2) Recovery Zone Facility Bonds (for private borrowers).

Redevelopment Liquor License (P.A. 501)

Thu, 11 Feb 2010 07:00:00 GMT

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.

Renaissance Zones®

Mon, 03 May 2010 06:00:00 GMT

Renaissance Zones® are regions of Michigan designated as virtually tax free for any business or resident presently in or moving to a zone. The zones provide selected communities with a market-based incentive of no state or local taxes to encourage new jobs and investment.

There are additional specialized Renaissance Zones available for designation. These types of zones are facility or industry specific. Specialized zones are potentially available for firms doing business in the agricultural processing, renewable energy, forest products processing and tool and die industries.

Renewable Energy Renaissance Zones

Mon, 24 May 2010 06:00:00 GMT

Renewable Energy Renaissance Zones were created to promote renewable energy operations in the state. They differ from Michigan's original renaissance zones because they require them to contain a company's renewable energy facility and can be located anywhere in Michigan.

Required Workplace Posters

Wed, 01 Apr 2009 06:00:00 GMT

This fact sheet lists the posters that must be displayed in the workplace. These posters can be obtained through the Department of Energy, Labor and Economic Growth or from the U.S. Department of Labor.

SBA Certified Development Company (504) Loans

Mon, 29 Mar 2010 06:00:00 GMT

The U.S. Small Business Administration's (SBA) program provides small- and medium-sized businesses with long-term fixed rate financing for the acquisition or construction of fixed assets. Businesses must have a tangible net worth of less than $7.5 million and an average net profit of less than $2.5 million for the past two years.

Small Business Administration Loan Programs

Wed, 13 Aug 2008 06:00:00 GMT

Overview of several loan and loan guaranty programs made available through the Small Business Administration.

Michigan SmartZone℠ Network

Wed, 02 Jun 2010 06:00:00 GMT

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.

Tax Breaks and Exemptions - What Small Business Should Know

Wed, 19 Aug 2009 06:00:00 GMT

Entrepreneurs and small business owners must pay close attention to the fundamentals of taxation and business costs to participate in a competitive market. Below are some highlights that business owners should review and, as necessary, discuss with a tax preparer, business consultant, or tax attorney.

Tax Exemptions for Michigan Companies

Thu, 15 Oct 2009 06:00:00 GMT

Various sales and property tax exemptions in Michigan help reduce the tax liability for companies. Available tax exemptions are outlined in this fact sheet. Businesses should discuss these tax exemptions with their tax preparer, CPA, or tax attorney, as needed.

Tax Increment Financing Authority (TIFA)

Fri, 31 Oct 2008 06:00:00 GMT

The Tax Increment Finance Authority (TIFA) helps eligible cities to stop the decline of property value in a specific area. In addition, TIFA districts are designed to increase the property tax valuation of the area and to eliminate the causes of the decline in property values. In short, TIFA districts promote growth in a specific area within a city.

Taxable Bond Financing

Wed, 14 Jan 2009 07:00:00 GMT

Taxable Bond Financing provides small-and medium-sized companies access to public capital markets normally available to larger companies.

Technology Collaboration Tax Credit

Fri, 09 Apr 2010 06:00:00 GMT

The Technology Collaboration Tax Credit provides the opportunity to develop strategic partnerships between emerging technology companies and larger, established businesses by providing an incentive for the larger companies to invest in the smaller companies, while helping to diversify Michigan's economy.

Tool & Die Recovery Zones

Wed, 21 Apr 2010 06:00:00 GMT

Eligible businesses located in a Recovery Zone are eligible for an exemption, deduction or credit on the following taxes: Michigan Business Tax (MBT), state education tax, personal and real property taxes, and local income tax where applicable.

Unemployment Insurance Services

Tue, 14 Apr 2009 06:00:00 GMT

This fact sheet gives an overview of Michigan's Unemployment Insurance tax.

Water Resource Improvement - Tax Increment Financing Authority (TIFA)

Thu, 11 Feb 2010 07:00:00 GMT

A Water Resource Improvement – Tax Increment Financing Authority may be established around an inland lake. A authority may use its funds to enhance water quality, water dependant natural resources and access to an inland lake.

Workers' Compensation Cost Control Service

Mon, 17 Aug 2009 06:00:00 GMT

The Workers' Compensation Cost Control Service assists employers in designing and implementing strategies for minimizing their costs of workers' compensation coverage. This program also benefits employees by stressing the importance of injury prevention and early return-to-work programs, thereby minimizing the suffering and lost income, which result from work-related disabilities.