Michigan and Huron Township are good for business.
There are many reasons Huron Township, Michigan is good for business. The state of Michigan is ranked as a Top 10 Pro-Business State and as a Top 10 state for major new and expanded corporate facilities. Michigan’s competitiveness is due in part to the simple, fair and efficient 6 percent corporate tax, and the elimination of industrial personal property taxes that will cut $372 million for small businesses by 2020. Check the MEDC’s Newsroom for current data and compelling articles that tell Michigan’s robust business story. The MEDC is one of the areas most comprehensive sources for building business connections, capital resources and incentives and use of Pure Michigan talent connect.
1. Huron Township LDFA and other prime areas have SMART ZONES
2. Michigan’s economy is at a 10-year high
3. Michigan’s unemployment at 9.0% – latest employment data available
4. Personal income up 3.5%, matching the national average
5. A $1.5 billion budget deficit eliminated, saving $20 billion in long-term liability ($2,000 per resident)
6. A job-killing Michigan Business Tax replaced by a flat 6% Corporate Income Tax, improving the state’s tax ranking to #7 from #49
7. An obsolete Personal Property Tax phased out
8. State taxes reduced by at least 80% for businesses of all sizes
9. Workers’ compensation premiums decreased by 7% per year the last two years, the best of any Midwestern state
10. The Michigan Unemployment Trust Fund holds a $1.5 billion surplus, versus a previous $3.9 billion unfunded liability, eliminating tax penalties
11. The state’s “rainy day” development fund has grown to $505 million