LDFA1 District-SET Enterprise expansion
The Local Development Finance Authority of Huron Township announced the completion of an expansion program within its district at manufacturing company, SET Enterprise.
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.
Check out our LDFA You Tube video explaining what the Local Development Finance Authority is all about. https://www.youtube.com/watch?v=Kc5WamBPa0E&list=UUps0j2UPfTJnGKu_3xii0iQ. Why should your company be located in a LDFA boundary? Access to low interest rates for fixed asset purchasing and capital financing. Class A Sewer and Water, Surface roads already placed in some parts of the LDFA. […]
The LDFA of Huron Township has properties available for manufactoring, tech and environmental business in the LDFA1 and LDFA2 districts, with a great deal of benefits for relocating or expanding companies. Call (734) 753-4466 EXT 115 for information or email jrattray@hurontownship-mi.gov. Why should your company be located in a LDFA boundary? Access to low interest rates […]
For the past two years, the Local Development Finance Authority of Huron Township, MI. has nominated one of its outstanding manufacturing firms located within its LDFA 1 or LDFA 2 districts. This year the group has chosen to honor Mr. Victor Edozien, Chairman, CEO & President of SET Enterprises , Inc. for the John G. Thodis Michigan Manufacturer of the Year 2016:
Tax credits for business
According to the IRS, your general business credit for the year consists of your carry forward of business credits from prior years plus the total of your current year business tax credits. In addition, your general business credit for the current year may be increased later by the carry back of business credits from later years. You can subtract this credit directly from your tax. To find the Form you need here.
While most Michigan manufacturing companies provide salaries well above the minimum wage offerings, the increase does has Michigan businesses taking the minimum wage into account with new hires as well as current employees.
Manufacturing firms in general, hire in new employees above the minimum wage to attract the best available in skilled trades. There are over 800 manufacturing positions in the Huron Township, Michigan LDFA1 and LDFA2 districts.
In today’s competitive global economy, Michigan business are searching for ways to strengthen the backbone of their enterprise – logistics and supply chain. Effectively managing warehousing, distribution, inventory and production are at the core of profitability and the driving force behind the state’s newly created logistics and supply chain strategic plan. That strategy along […]
Pauls Corporation, which has been making business plans in the Detroit market, including potential a development in Huron Township, is also involved with a Tiger Stadium project. The Tiger Stadium Partners team includes Larson Realty Group, Rossetti Architects, Jenkins Construction, Heritage Development, University of Michigan Sports Management, Stokas Bieri Real Estate, The Pauls Corporation, Fundrise and Popularize.
The Wetland Identification Program (WIP), formerly referred to as the Wetland Assessment Program, was established by the DEQ in July 1998 to assist the public in identifying wetland and non-wetland areas on their property. The three levels of wetland identification services and associated fees are as follows:
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.
Under Michigan’s Wetland Protection Act, a permit is required for the following activities:
Deposit or permit the placing of fill material in a wetland
Drain surface water from a wetland
Dredge, remove, or permit removal of soil or minerals from a wetland
Construct, operate, or maintain any use of development in a wetland
