The Local Development Finance Authority of Huron Township announced the completion of an expansion program within its district at manufacturing company, SET Enterprise.
SET Enterprises, Inc. is a leading supplier of metal processing services to the automotive industry. Their primary services include blanking, slitting and warehousing of metal products. They provide quality products and services to their customers, while offering unique solutions to help their customers achieve their goals and objectives. They have facilities in Michigan, Illinois, Alabama and Indiana.
The LDFA was pleased they chose to expand their facilities in the Huron Township/New Boston location. Being in a LDFA district the group is able to provide funding for projects that help further progress for business. The $150,000 grant was provided to SET to expand the facility, parking lot and landscaping.
The Huron Township LDFA exists to provide public improvements necessary or desirable to facilitate, promote and sustain industrial development within the established district of the Local Development Finance Authority of Huron Township.
Defined, the Local Development Financing Act (LDFA), , 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.
Huron Township LDFA is home to many successful other manufacturing businesses with space to grow new companies! Recently the group has developed a new LDFA2 district with many opportunities for new business. Call R.P. Lilly, chairman for more information 517-375-1624.