Incentives
The progressive state of Michigan has enacted several opportunities that serve to remain beneficial for companies of any age or size. The Branch County Economic Growth Alliance's team has the ability to assist any current or prospective business and guide them towards achieving the greatest possible number of applicable advantages. Some of these incentives have contributed to the development and expansion of businesses in Branch County for nearly 50 years. These incentives have helped engineer start-up businesses as well as fine tune and grow pre-existing corporations. Along with hundreds of satisfied companies, we know that Branch County is a great place for a business to thrive - call us and find out exactly why we all think this way.
Below you find a list of the most prominent incentives:
This abatement allows distressed communities, county seats and certain border county communities to abate personal property taxes by the full millage rate on new investments made by eligible businesses.
A new warehouse, distribution or logistic facility that locates in an eligible border county may receive a 50% reduction in property taxes through P.A. 198. To qualify, at least 90% of the facility, excluding the surrounding green space, must be used for the above purposes and occupy a building or structure of at least 100,000 square feet in size.
Eligible businesses that locate in a border county and receive approval from the Michigan State Treasurer and President of the Michigan Strategic Fund may receive a 100% personal property tax abatement on new investment through P.A. 328.
Cities, villages and townships that contain distressed areas (as defined under the Michigan State Housing Development Authority Act), and all county seats (as defined under the Neighborhood Enterprise Zone Act) are eligible to participate. Eligible businesses that locate in a county that borders another state or Canada may qualify for special tax incentives under P.A. 198 and P.A. 328.
Industrial property tax abatements provide incentives for Michigan manufacturers to build new plants, expand existing plants, renovate aging plants or add new machinery and equipment. Also eligible for the abatement are high-technology operations defined as advanced computing, advanced materials, biotechnology, electronic device technology, engineering or laboratory testing, medical device technology, product research and development and advanced vehicles technology.
Each municipality may have their own policy and terms for the length of the abatement.
To retain the current workforce, the Michigan Works! program offers several workforce assistance programs, including Employee Enhancement Training, through the Incumbent Worker Program. This program allows companies to spend up to $3,500 to train each employee, depending on the training program.
Services include screening and hiring services, on-the-job training funds, Worker Opportunity Tax Credits and ongoing training strategies. Past training programs have included computer skills, LEAN manufacturing, ISO and trade apprenticeships.
Procurement Technical Assistance Centers (PTACs) of Michigan are your first step in getting government contracts and can assist your company throughout the entire process from start to finish: registering to become a government contract, identifying bid opportunities, walking you through and simplifying the bidding process, helping you to expedite payments through electronic invoicing and even helping you post award with the evaluation of contract awards.
The Branch County Economic Growth Alliance's Revolving Loan program has the funding necessary to assist businesses getting started, grow and provide jobs in Branch County.
Loans are particularly tailored for businesses that, for whatever reason, have found it difficult to meet traditional lending institution requirements.
Below you find a list of the most prominent incentives:
- Border County Incentives (P.A. 328)
- Industrial Property Tax Abatement (P.A. 198)
- Michigan Works!
- Procurement Technical Assistance Centers
- Revolving Loan Program
Border County Incentives (P.A. 328)
Benefit
This abatement allows distressed communities, county seats and certain border county communities to abate personal property taxes by the full millage rate on new investments made by eligible businesses.
A new warehouse, distribution or logistic facility that locates in an eligible border county may receive a 50% reduction in property taxes through P.A. 198. To qualify, at least 90% of the facility, excluding the surrounding green space, must be used for the above purposes and occupy a building or structure of at least 100,000 square feet in size.
Eligible businesses that locate in a border county and receive approval from the Michigan State Treasurer and President of the Michigan Strategic Fund may receive a 100% personal property tax abatement on new investment through P.A. 328.
Eligibility (Not Comprehensive)
Cities, villages and townships that contain distressed areas (as defined under the Michigan State Housing Development Authority Act), and all county seats (as defined under the Neighborhood Enterprise Zone Act) are eligible to participate. Eligible businesses that locate in a county that borders another state or Canada may qualify for special tax incentives under P.A. 198 and P.A. 328.
Industrial Property Tax Abatement (P.A. 198)
Benefit
Industrial property tax abatements provide incentives for Michigan manufacturers to build new plants, expand existing plants, renovate aging plants or add new machinery and equipment. Also eligible for the abatement are high-technology operations defined as advanced computing, advanced materials, biotechnology, electronic device technology, engineering or laboratory testing, medical device technology, product research and development and advanced vehicles technology.
Eligibility (Not Comprehensive)
Each municipality may have their own policy and terms for the length of the abatement.
Michigan Works!
Benefit
To retain the current workforce, the Michigan Works! program offers several workforce assistance programs, including Employee Enhancement Training, through the Incumbent Worker Program. This program allows companies to spend up to $3,500 to train each employee, depending on the training program.
Eligibility (Not Comprehensive)
Services include screening and hiring services, on-the-job training funds, Worker Opportunity Tax Credits and ongoing training strategies. Past training programs have included computer skills, LEAN manufacturing, ISO and trade apprenticeships.
Procurement Technical Assistance Centers
Benefit
Procurement Technical Assistance Centers (PTACs) of Michigan are your first step in getting government contracts and can assist your company throughout the entire process from start to finish: registering to become a government contract, identifying bid opportunities, walking you through and simplifying the bidding process, helping you to expedite payments through electronic invoicing and even helping you post award with the evaluation of contract awards.
Revolving Loan Program
Benefit
The Branch County Economic Growth Alliance's Revolving Loan program has the funding necessary to assist businesses getting started, grow and provide jobs in Branch County.
Eligibility (Not Comprehensive)
Loans are particularly tailored for businesses that, for whatever reason, have found it difficult to meet traditional lending institution requirements.