| For
businesses looking to expand or open new operations, we offer
a progressive business climate, countless incentives, a dedicated
workforce, low tax rates, customized training, and competitive
wages.
Industrial Tax Abatements
Industrial Tax abatements provide incentives to renovate
and expand aging manufacturing plants or to build new plants
in Michigan. Tax benefits are granted by the legislative
body of the city, township, or village in which the facility
will be located.
Revolving
Loan Funds
Revolving Loan Funds offer competitive interest rates and
negotiable terms
Industrial
Development Revenue Bonds
Industrial Development Revenue Bonds (IDRB) provide assistance
for economic development projects in Michigan including
manufacturing, not-for-profit, and solid waste facility
projects.
Taxable
Bond Financing
This program provides small and medium sized companies access
to public capital markets normally available to larger companies.
Taxable Bond Financing offers long-term, fixed-rate or variable
rate financing.
HUBZone
Contracting
A HUBZone is a "Historically Underutilized Business
Zone". This federal contracting program serves new
market communities with low income or high unemployment.
The program provides both federal prime contract and subcontract
benefits. The federal government has set a goal of 3% of
the total value of all prime contracts for HUBZone contracting
opportunities. Based upon high historical unemployment levels,
the whole of Sanilac County has been designated by the federal
government as an affiliate HUBZone.
Renaissance
Zone Incentives
Renaissance Zones are an economic development breakthrough
originating in Michigan. The taxes that current and prospective
businesses locating in a Renaissance Zone do not have to
pay are nearly all of the state and local taxes levied on
business activity. Sanilac County has 3 industrial designated
Renaissance Zones located in Brown City, Croswell, and Sandusky.
Brownfield
Redevelopment Incentives
Sanilac County has an established Brownfield Redevelopment
Authority to remove the obstacle of liability for existing
site contamination. Buyers and lenders are now reliably
protected from liability under Michigan Law paving the way
for new industrial or commercial property redevelopment.
Remediation costs incurred for a new business choosing a
Brownfield site can be reimbursed through tax capture. Additionally,
new businesses locating on a Brownfield site can receive
a credit against the Michigan Single Business Tax (SBT)
based on 10% of eligible investment.
SBA
504 Loans
SBA 504 Loans offer small and medium businesses with long-term,
fixed-rate financing for the acquisition or construction
of fixed assets. Loan terms are generally 10-20 years, depending
on the type of assets financed.
SBA
7 Loans
SBA 7 Loans offer financing for working capital or fixed
assets through a conventional lending institution. Loan
terms and interest rates are established by the lender.
|
