Conducting business in the State of Michigan has various advantages ranging from economic incentives to intellectual capital.
The State of Michigan has aggressive economic and tax incentive programs for qualified tenants. The MEGA Tax Credit program offers discretionary tax credits against the Michigan Business Tax including up to one hundred percent of employee withholding taxes each year for up to twenty years. In addition, the communities have the ability to offer property tax abatements for new real and personal property investment. The extent of these incentive opportunities depends on the regional competition and potential business assumptions for payroll, total jobs, and level of investment.
The Huron Township Local Development Finance Authority, (LDFA), public Act 281 of 1986, as amended, allows eligible entities to establish area boundaries, create and implement a development plan, acquire and dispose of interest in real and personal property, issue bonds and use tax increment financing to fund public infrastructure improvements for eligible property. The tool is designed to promote economic growth and job creation. Communities across Michigan have used this tool to support companies in manufacturing, agricultural processing, and high technology operations.
Businesses that relocate to Huron Township have access to low interest rates, Class A Sewer and Water and prime location are just a few benefits to having your business located in Huron Township. LDFA designation is limited to business activities that involve: Manufacturing, Agricultural Processing, High-Technology Activities and Energy Production.
Due to the nature of Southeastern Michigan’s involvement in tech innovation over the past one hundred years, businesses are able to take advantage of a highly skilled workforce in areas of research and development. In additional to seasoned employees, top-rated schools nearby continue to train and educate some of the most intellectual students in the country.
In Huron Township’s Local Development Finance Authority district, the LDFA1 has contributed eight hundred manufacturing jobs in the past year and LDFA2 is considered a smart zone as well which is hopeful to attract even more new business. The Local Development Finance Authority Huron Township, MI is a beacon for economic growth in the area. More information at www.hurontwpldfa.com.