Match on Main is a reimbursement grant program, provided by the Michigan Economic Development Corporation, that serves as a tool to support new or expanding place-based businesses by providing up to $25,000 in funding to support an eligible small business through an application submitted, administered, and managed by the local unit of government, downtown development authority, or other downtown management or community development organization where the business is located.

LOCAL APPLICATIONS DUE BY 11/21/2023 by 5:00 PM

As a designated Opportunity Zone, incentives are available for capital investments in low-income communities nationwide. There are three types of tax incentives that relate to the treatment of capital gains, each of the incentives are connected to the longevity of an investor’s stake in a qualified Opportunity Fund (QOF)that provides the most upside to those who hold their investment for 10 years or more.

Industrial property tax abatements provide incentives for eligible businesses to make new investments in Michigan. These abatements encourage Michigan manufacturers to build new plants, expand existing plants, renovate aging plants, or add new machinery and equipment. High technology operations are also available for abatement.  Depending on the scope and type of project, real property taxes can be abated up to 50% for a period not to exceed 12 years for new construction. Further, the 6-mil SET may be abated up to 100% with approval from the MEDC.

In the case of a rehabilitation, the current assessed value of the property prior to improvement is frozen.  This results in a 100% exemption from property tax on the value of the improvements. 

SCORE provides confidential business advice through our network of 10,000 volunteer business experts via video chat, face-to-face or email.

This program provides a matching grant for improvements within the TIFA District. It is a competitive grant program. For every dollar awarded the applicant must spend an equal amount. Individual grant amounts will be up to 50 percent of owner investment. The grant program is funded by the City of Hart TIFA with funds raised through its revenues. Grant applications will be reviewed by the City of Hart TIFA Board. There is no set minimum or maximum number of projects per year.

Michigan has established several state and local economic development resources that provide support for companies investing and expanding their operations and workforces in Michigan communities.

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The Remediation and Redevelopment Division provides financial and technical assistance including grants, loans, tax increment financing and free site assessments to facilitate the redevelopment of brownfield properties. 

The Michigan Community Revitalization Program (MCRP) is an
incentive program available from the Michigan Strategic Fund (MSF), in cooperation with the Michigan
Economic Development Corporation (MEDC), designed to promote community revitalization that will
accelerate private investment in areas of historical disinvestment; contribute to Michigan’s reinvention
as a vital, job-generating state; foster redevelopment of functionally obsolete or historic properties;
reduce blight; and protect the natural resources of this state. The program is designed to provide grants,
loans, or other economic assistance for eligible investment projects in Michigan.

Historically, low-income communities experience a lack of investment, as evidenced by vacant commercial properties, outdated manufacturing facilities, and inadequate access to education and healthcare service providers. The New Market Tax Credit Program (NMTC Program) aims to break this cycle of disinvestment by attracting the private investment necessary to reinvigorate
struggling local economies.

The NMTC Program attracts private capital into low-income communities by permitting individual and
corporate investors to receive a tax credit against their federal income tax in exchange for making equity
investments in specialized financial intermediaries called Community Development Entities (CDEs). The
credit totals 39 percent of the original investment amount and is claimed over a period of seven years.

The City is willing to negotiate both property costs and utility/development fees for city-owned property.  Developers are required to submit a development proposal which will be reviewed internally for economic impacts.  If the economic impacts are high for the city, fees may be potentially reduced to support the project.