Michigan: SmartZone Satellite potential for Huron Township
Michigan’s SmartZones program were created by the state legislature in 2000, and are administered by the Michigan Economic Development Corporation. “SmartZones” facilitate in capturing the growth of property taxes within the zone’s boundaries. Examples of captured revenue uses include purchase of property, construction of infrastructure, and creating publicly owned high-tech business incubator facilities.
Public Act 125 of 2015, which amends the Local Development Financing Act of 1986 to increase the number of Michigan satellite SmartZones from three to nine.
