Port Lansing has a variety of incentives and training programs at its disposal that we can tailor to companies’ needs to help them compete in the global marketplace.
Port Lansing NMDC
The Next Michigan Development Act (NMDC) was passed in 2010 to foster economic opportunities for Next Michigan businesses that utilize multimodal transportation in supply or production chains.
Renaissance Zone, PA 376 of 1996
Port Lansing NMDC can establish Renaissance Zones that offer up to 100 percent relief from both real and personal property taxes and, if applicable, city corporate income tax on airport property. The Renaissance Zone may be approved for up to 10 years and is phased out in 25 percent increments in the last three years of its existence.
Local Development Financing Act, PA 281 of 1986
Allows Port Lansing NMDC to utilize tax increment financing (TIF) to fund public infrastructure improvements. Several financing options allow for the capture of incremental growth of local property taxes over a period of time to fund these improvements.
New Personal Property Tax Exemption, PA 328 of 1998
Allows for a 100 percent property tax exemption for an unlimited number of years on new personal property for companies within certain industries.
Industrial Facilities Tax Exemption pursuant to Act 198 of 1974
An Industrial Facilities Exemption certificate can be used to obtain a 50 percent property tax reduction for new, qualified, real and personal property for a period of up to 12 years.
State of Michigan Workforce Training programs
Michigan New Jobs Training Program. This unique economic incentive allows for a business to partner with one of the state’s 28 community colleges to develop a training program that will produce highly skilled employees who can increase your competitive edge. Call Port Lansing for details.
Workforce Investment Act (WIA) Funds. Capital Area Michigan Works can assist with HR placement services. WIA funds can be used on the job or for classroom training. Contact Capital Area Michigan Works at 517-492-5575.
Local Development Financing Act (LDFA). Allows Port Lansing’s Next Michigan Development Corporation to issue bonds and tax increment financing to fund public infrastructure improvements for eligible property in an LDFA District. Local taxes on real and personal property are eligible to be captured as tax increment financing revenue to finance necessary public infrastructure projects.
Michigan Business Development Program. The program provides grants, loans or other economic assistance from the Michigan Strategic Fund for highly competitive projects in Michigan including projects at Port Lansing. All projects are subject to an application and due diligence process conducted by the Michigan Economic Development Corporation. Projects must meet eligibility requirements for qualified new jobs and/or qualified new investment in Michigan and net-positive return to Michigan. This leading economic development program is a powerful tool that allows Port Lansing to compete for projects with out-of-state locales.