Grow Your Business in Muskegon County
Looking to expand or locate your business? Muskegon County has tools to help. In an effort to spur our local economy and to assist businesses with expansions or developing new locations in Muskegon County, our economic development partners can utilize several tools that can assist companies and entrepreneurs looking to do business in Muskegon County.
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|Business Improvement District|
(BID)/Principal Shopping District (PSD)
|Cities, villages, and urban townships|
may create a BID or PSD to allow a municipality to collect revenues, levy special assessments, and issue bonds in order to address the maintenance, security, and operation of that district.
|Business Improvement Zone (BIZ)|
|A BIZ can be created by private property owners of those parcels in a zone plan within a city or village to levy assessments and finance activities and projects outlined within a zone plan.|
|Commercial Redevelopment Act|
|PA 255 encourages the replacement, restoration, and new construction of commercial property in a city or village. Property taxes generated from new investment are abated for a period up to 12 years. Land and personal property are not eligible.|
|Commercial Rehabilitation Act|
|PA 210 encourages rehabilitation of commercial property in a city, village, or township. Property taxes generated from new investment are abated for a period up to 10 years.|
|Conditional Land Use Transfer|
|PA 425 allows one municipality the option of conditionally transferring land to another. This public act was established to ease the legally difficult process of annexation, and to encourage cooperation. Cities, villages, and townships may enter into land transfer agreements.|
|Corridor Improvement Authority|
(CIA) (PA 280)
|A CIA is designed to assist cities, villages, and townships with funding improvements in commercial corridors outside of main commercial or downtown areas.|
|Downtown Development Authority (DDA) (PA 197)||A DDA is designed to be a catalyst in a community’s downtown district. It provides a variety of funding options including a tax increment financing mechanism, which can|
be used to fund public improvements and to levy a limited millage to address administrative expenses.
|Historic Neighborhood Tax Increment Financing Authority (HNTIFA)|
|An HNTIFA may use its funds, including tax increment financing, to support residential and economic growth in local historic districts. An authority may also issue bonds to finance these improvements.|
|Local Development Financing Authority (LDFA) (PA 281)||An LDFA allows a city, village, or urban township to use tax increment financing to fund public infrastructure improvements for eligible properties. LDFAs can promote economic growth and job creation through supporting companies in manufacturing, agricultural processing, and high technology operations.|
|Neighborhood Enterprise Zone|
(NEZ) (PA 147)
|PA 147 provides a tax incentive to develop or rehabilitate residential housing located in certain distressed communities. NEZs are available to core communities.|
Authority (NIA) (PA 61)
|An NIA may use its funds, including tax increment financing, to fund residential and economic growth in residential neighborhoods. An authority may also issue bonds to finance these improvements.|
|Obsolete Property Rehabilitation|
Act (OPRA) (PA 146)
|Tax incentives are available to encourage redevelopment of contaminated, blighted, and functionally obsolete buildings in eligible core communities. OPRA helps spur private development in urban areas and centers of commerce, by temporarily freezing local taxes up to 12 years.|
|Redevelopment Liquor Licenses|
|Through PA 501, the Liquor Control Commission may issue new public on-premises liquor licenses to local governments in addition to quota licenses allowed in cities under PA 58.|
|Water Resource Improvement Tax Increment Finance Authority Act|
(PA 94 of 2008)
|Through PA 94, a city, village, or township can establish a Water Improvement Tax Increment Finance Authority to prevent deterioration in water resources, and to promote water resource improvement or access to inland lakes, or both.|
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|Capital Access Program (CAP)||This program uses public resources to generate private bank financing, providing small businesses access to bank financing. Visit www.michiganbusiness.org for information.|
|Develop Michigan Initiative (DMI)||DMI is an innovative not-for-profit development finance organization formed through a partnership between the Michigan Strategic Fund, Cinair, and the Development Finance Group. DMI plays a dynamic role in financing commercial real estate projects and is designed to augment current efforts to transform and rehabilitate the Michigan economy. Visit www.developmichigan.net for more information.|
|Pure Michigan Business Connect||Developed by the MEDC, Pure Michigan Business Connect is a multi-billion dollar public/private initiative that connects Michigan businesses by introducing them to the purchasing pipelines of the state’s larger companies. Through this business-to-business (B2B) network, Michigan companies are encouraged to increase their procurement spending within the state. The B2B portal is free to all Michigan businesses. Visit www.puremichiganb2b.com for more information.|
|Pure Michigan Talent Connect||Employers and job seekers alike can search an extensive database of job openings, post and view résumés and jobs, view upcoming job fairs, and tap into a variety of specialty career services at www.mitalent.org.|
|SBA 504 Loans||These loans provide businesses with|
long-term fixed-rate financing for the acquisition or construction of fixed assets. Visit www.sba.gov/mi for more information.
|Small Business Development|
|Michigan’s SBDC has 11 regional offices that provide counseling, training, and many other valuable resources to support small businesses. Visit www.sbdcmichigan.org for more information.|
|United States Department of Agriculture (USDA)||USDA provides funding opportunities for rural small businesses through loans, loan guarantees, and grants.|
|U.S. Economic Development Administration (EDA)||The EDA exists to provide local distribution companies with the valued industry knowledge, networking opportunities and collective action vital to the business success of each member.|
|Department of Agriculture and Rural Development (MDARD)||MDARD has a dual role of regulator and marketer, the department provides Michigan citizens with quality services and information by working cooperatively with many state, federal and local agencies and other organizations including universities, colleges and associations.|