Incentives and Programs

Doing Business in Bay County

Bay Future, Inc.

Information on services that Bay Future, Inc. can offer to help you grow your business.

DownloadBay Future, Inc. Information

 

Brownfield Redevelopment Authority (P.A. 381)

 

The creation of a Brownfield Redevelopment Authority allows local decision-making in the various aspects of Brownfield redevelopment.

DownloadBrownfield Redevelopment Authority (P.A. 381)

 

Brownfield Tax Increment Financing

 

The Tax Increment Financing Authorities allows municipalities to develop districts with authority to capture taxes due to the increase in property values within a specific district that have resulted from project investments. The districts may be under the jurisdiction of a Downtown Development Authority (DDA), Local Development Finance Authority (LDFA), Tax Increment Finance Authority (TIFA) or Brownfield Redevelopment Authority (BRA).Under the act, the authority may use the captured taxes to pay for water and sewer, roads, environmental testing and other public investments within the development district depending on type of authority. The funds may be used for either industrial or commercial projects.

 

Community Assistance Team (CATeam) - Specialist Map

 

Map showing the Community Assistance Team Specialist assignment areas.

DownloadCommunity Assistance Team (CATeam) - Specialist Map

 

Industrial Property Tax Abatement (P.A. 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 ageing plants, or add new machinery and equipment. High-technology operations are also eligible for the abatement.

DownloadIndustrial Property Tax Abatement (P.A. 198)

Application for Industrial Facilities Tax Exemption Certificate

Frequently Asked Questions: Plant Rehabilitation and Industrial

DevelopmentAct (Industrial Facilities Exemption)

 

Michigan Manufacturing Technology Center (MMTC)

 

The MMTC offers direct technical assistance to small- and medium-sized manufacturers to connect them to the best manufacturing practices and technologies available.

DownloadMichigan Manufacturing Technology Center (MMTC)

 

Obsolete Property Rehabilitation Act - OPRA

 

Obsolete Property Rehabilitation Act provides for a tax incentive to encourage the redevelopment of obsolete buildings that are contaminated, blighted or functionally obsolete. The goal is to rehabilitate older buildings into vibrant commercial and mixed-use projects.

DownloadObsolete Property Rehabilitation Act (OPRA)

Application for Obsolete Property Rehabilitation Exemption Certificate

 

Personal Property Tax Relief in Distressed Communities (P.A. 328)

 

Personal Property Tax Relief in Distressed Communities allows distressed communities, county seats and certain border county communities to abate personal property taxes on new investments made by eligible businesses.

DownloadPersonal Property Tax Relief in Distressed Communities (P.A. 328)

 

Private Activity Bond Program (former IDRB)

 

Private Activity Bonds are a source of financial assistance to economic development projects in Michigan. They provide profitable firms with capital cost savings stemming from the difference between taxable and tax-exempt interest rates.

DownloadPrivate Activity Bond Program (former IDRB)

 

Procurement Technical Assistance Centers (PTAC)

 

Procurement Technical Assistance Centers (PTACs) assist companies in getting government contracts. They assist throughout the entire procurement process from pre-award to post-award.

DownloadProcurement Technical Assistance Centers (PTAC)

 

SBA Certified Development Company (504) Loans

 

The U.S. Small Business Administration's (SBA) program provides small- and medium-sized businesses with long-term fixed rate financing for the acquisition or construction of fixed assets. Businesses must have a tangible net worth of less than $7.5 million and an average net profit of less than $2.5 million for the past two years.

DownloadSBA Certified Development Company (504) Loans

 

Small Business Administration Loan Programs

 

Overview of several loan and loan guaranty programs made available through the Small Business Administration.

DownloadSmall Business Administration Loan Programs

 

Tax Increment Financing Authority (TIFA)

 

The Tax Increment Finance Authority (TIFA) helps eligible cities to stop the decline of property value in a specific area. In addition, TIFA districts are designed to increase the property tax valuation of the area and to eliminate the causes of the decline in property values. In short, TIFA districts promote growth in a specific area within a city.

DownloadTax Increment Financing Authority (TIFA)

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Investors