| State of Michigan Incentives |
Who is Eligible? Criteria? |
Program Description |
Any Fees Associated? |
Time Frame |
| Charter One Job Creation Loan Program Contact Julie Van Dyke at (231) 845-6646 |
businesses in a broad array of industry sectors, including
manufacturing, distribution centers, emerging sectors, and the 21st Century Jobs Fund competitive-edge technologies (life sciences, alternative energy, homeland security/defense
and advance automotive, manufacturing and materials). |
Low interest loans for companies doing business in the State of Michigan or companies considering significant investment and job creation in Michigan. 4.99% APR, fixed for 12 months. Any loan booked in the first year of the program will carry a 4.99% fixed rate for the life of the loan. After 12 months the offering rate for the program may be reset, and would be available for any loan booked in the second year of the program. The Reset rate will remain well below market rate. |
No fees or points if the loan is approved and closed.
Loan Amounts: Minimum $1 million; maximum $10 million. Loans may not exceed 75% of total project cost. Building acquisition/remodeling loans limited to 75% of appraisal
value. |
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| Charter One Loan.pdf |
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| Community Development Block Grant (CDBG) Contact Julie Van Dyke at (231) 845-6646 |
Companies and local governments committed to fund road, sewer and/or water infrastructure |
$10,000 in grant monies per eligible job created. 10% local match required |
Administrative fees not to exceed $7,500. Pre-application fees not to exceed $5,500 |
Administrative fees not to exceed $7,500. Pre-application fees not to exceed $5,500 |
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| Economic Development Job Training Grant (EDJT)Contact Julie Van Dyke at (231) 845-6646 |
companies willing to work with private or public education providers to design training (very competitive) |
Funds are subject ot annual appropriation by state legislature. Grants are up to $1,000 for new employees and up to $500 for existing employees |
Employer is required to match 25% of the grant |
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Incumbent Worker Training Grant (IWT)Contact Julie Van Dyke at
(231) 845-6646 |
This is federal funding for training of existing employees through the Michigan Department of Labor and Economic Growth, and Michigan Works! West Central
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Any company that needs training for its workers for one of the following reasons:
- Skill training designed to avert layoffs, upgrading related to new work processes or business restructuring.
- Job specific retraining or skills upgrading related to new work processes or business restructuring.
- Introduction of new industry technology
- New organization strategies designed to promote company expansion/growth
- New organization strategies designed to prevent closing/dislocation of Michiganbusinesses or workers
Priority is given to the Health Care Industry, and most applicants are manufacturing.
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A match of $1.00 of non-federal funding for each $1.00 of federal funding is required. Match may include the wages and benefits of employees attending the training as well as things like facility and materials use and cash match to the school providing the training.
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| On the Job Training Grant (OJT) Contact Julie Van Dyke at (231) 845-6646 |
This is federal funding for training of new employees from the Workforce Investment Act, through the Michigan Department of Labor and Economic Growth, and Michigan Works! West Central.
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Employers who hire eligible workers referred by the program.
The OJT Agreement must be in place before the worker is hired and starts work.
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On-the-Job Training is training provided by the employer to the worker while the worker is working.
Training costs are based on 50% of the wages paid to the worker while they are in training.
There is a specific training outline determined with the Employer. The length of an OJT Agreement is based on the skills of the worker and the difficulty of the job. |
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| Michigan Economic Growth Authority (MEGA)Contact Julie Van Dyke at (231) 845-6646 |
Companies engaged in manufacturing, research and development, wholesale trade or high-tech. Businesses must be financially sound and have sound proposed expansion plans |
Regular MEGA: In-state expansion must create 75 new full time jobs. Out of state businesses locating in Michigan must create 150 new full time jobs. High-Tech MEGA: Expansion or location in Michigan must create 5 new full time jobs, and 25 new full time jobs within 5 years. Business must not have announced the location decision. Tax credits must address the advantage the company would gain if expanding outside the State of Michigan |
$5,000 fee to the State of $500 for high-tech applicants. Administration fee of 1/2 of 1% in the State of Michigan. |
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| High Tech Mega.pdf Mega.pdf |
Single Business Tax Creditthrough the Brownfield Redevelopment Authority of Mason County. Contact Julie Van Dyke at
(231) 845-6646 |
Developers who want to return Brownfields to productive use |
Qualified businesses claim a credit against their Single Business Tax liability up to 10% of their eligible investment to redevelop the property. Total credit can be up to $30 million |
$5,000 application fee to State of Michigan |
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Reimbursement of property taxes for Brownfield RedevelopmentsThrough the Mason County Brownfield Redevelopment Authority. Contact Julie Van Dyke at
(231) 845-6646 |
The BRA can capture new state (with approval) and local taxes to reimburse developers for eligible expenses in a Brownfield. |
With an approved Brownfield Plan, local new or incremental taxes are captured to reimburse eligible applicants. State School Taxes can also be captured with the approval of the Michigan Economic Development Corporation. |
$5,000 fee charged by the State of Michigan |
90-120 days |
| Brownfield.pdf |
| P.A. 198 Tax Abatement Industrial Property Contact Julie Van Dyke at (231) 845-6646 |
Michigan industrial plants which primarily manufacture or process goods or materials by physical change. Related facilities of manufacturers such as offices, engineering, research and development, warehousing or parts distribution are eligible. |
50% tax reduction in property taxes (real and personal). Two step local process: First step is establishing an Industrial Development district around property. Second step is for individual applications when capital investments are made. |
MCGA is available to prepare the application and shepherd it through the public process. There is no charge to contributors of the MCGA. For non-contributers, the fee is $500 for a $500K abatement or less and $1000 for a $1M abatement or more. Some local governmental units also charge a processing fee.
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30-60 days |
| P.A. 198.pdf |
| P.A. 328Personal Property Tax abatement (City of Ludington only). Contact Julie Van Dyke at (231) 845-6645 |
Same as P.A. 198 |
Companies can ask for 100% abatement of personal property within the City of Ludington. All state and local taxes are abated. |
Fees vary and are established by the local unit of government |
30-60 days |