State and Local Incentives
In partnership with the Michigan Economic Development Corporation (MEDC), Middle Michigan Development Corporation serves as the primary contact in Clare and Isabella Counties for businesses seeking state and select federal incentives. The following is a list of the most commonly used state incentives and federal incentives.
City of Mt. Pleasant Economic Development Incentive Programs
The City of Mt. Pleasant offers a variety of economic development incentive programs. For more information, please visit the City of Mt. Pleasant website.
City of Mt. Pleasant Revolving Loan Fund
Designed to encourage and support economic growth and community revitalization efforts, these loan funds generally support training, working capital, equipment financing and renovation. For further details, please contact the City of Mt. Pleasant’s Economic Development department.
Links to Select State Incentive Programs
Agribusiness Financing Programs
The Michigan Economic Development Corporation, in partnership with the Michigan Department of Agriculture & Rural Development (MDARD), offers multiple programs to help support the financing and growth of agricultural businesses in the State of Michigan. MDARD and the MEDC offer loan assistance to help businesses gain access to financing through private lenders, including banks and credit unions.
Brownfield Program Overview
The Brownfield Program uses tax increment financing to reimburse Brownfield related costs incurred while redeveloping contaminated, functionally obsolete, blighted or historic properties that are former industrial, commercial, residential or public property.
Commercial Redevelopment Act
The Commercial Redevelopment program encourages the replacement, restoration and new construction of eligible commercial property by abating the property taxes generated from new investment for a period up to 12 years.
Commercial Rehabilitation Act
The Commercial Rehabilitation program encourages rehabilitation of eligible commercial property 15 years or older by abating the property taxes generated from new investment for a period up to 10 years.
Community Development Block Grant (CDBG) Business Development Initiatives
The Michigan Strategic Fund (MSF), in cooperation with the MEDC, administers the CDBG program which is a federal grant program utilizing funds received from the U.S. Department of Housing and Urban Development (HUD). This fact sheet provides a broad overview of the business development portions of the program including Direct Assistance to Business and Infrastructure.
Community Development Block Grant (CDBG) Community Development Initiatives
The Michigan Strategic Fund (MSF), in cooperation with the MEDC, administers the CDBG program which is a federal grant program utilizing funds received from the U.S. Department of Housing and Urban Development (HUD). This fact sheet provides a broad overview of the community development portions of the program including Blight Elimination, Façade Improvements, Downtown Public Infrastructure and Signature Building Acquisition.
Industrial Property Tax Abatement (PA 198)
Industrial property tax abatements provide incentives for eligible businesses to make new investment 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 eligible for the abatement.
Michigan Business Development Program
The Michigan Business Development Program is an incentive program designed to provide grants, loans or other economic assistance to businesses for highly competitive projects in Michigan that create jobs and/or provide investment.
Michigan Community Revitalization Program
The Michigan Community Revitalization Program is an incentive program designed to provide grants, loans, or other economic assistance for eligible investment projects in Michigan that accelerate private investment in areas of historical declining values, foster redevelopment of functionally obsolete or historic properties, reduce blight and protect natural resources of this state.
Personal Property Tax Relief Program (PA 328)
The Personal Property Tax Relief in Distressed Communities Program allows distressed communities, county seats and certain border county communities to abate personal property taxes on new investments made by eligible businesses.
Middle Michigan Development Corporation works closely with the state’s regional representatives for Business Development and Community Development. The following are the listings for the Business Development Manager and Community Team Specialist serving our area: