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Global Companies Partnering with U.S. Universities

Dave Claborn , Director of Development and Community Relations, Ohio State University, Marion (Location USA 2016)
Hundreds of U.S. universities are collaborating with global companies to help them bring innovative ideas to the American marketplace. More

Frontline: Incubators Help Startups to Grow and Succeed

Dale D. Buss, Staff Editor, Area Development (Q1 2016)
Startup fever is exploding across America, as a slow-growth economy, corporate job cutbacks, and the work ethos and expectations of the burgeoning millennial generation reshape the business landscape. More

U.S. Legislative, Incentives, & Economic Development Policies Update

Jason Hickey, President, Hickey & Associates, LLC (Q1 2016)
Growing companies need to be aware of the many changes states are making to their incentives policies. More

Data Center Development and Financing Strategies

Gregory Burkart and Laca Wong-Hammond, Managing Directors, Duff & Phelps, LLC (Data Centers 2016)
Industry-specific factors to examine when evaluating data center locations include power needs/costs, scalability, and security; and carefully examine financing strategies for these capital-intensive investments as well. More

Regional Report: Industrial Diversification Helps Midwest Meet Today’s Economic Challenges

Dale D. Buss, Staff Editor, Area Development (Directory 2016)
The largely Midwest-based automotive is humming along to record sales and hauling hundreds of companies in the region along with it while technology companies have begun to warm up to the talent and work ethic that resides in America’s heartland. More

Advanced Manufacturing Changing the Economic Landscape

Dale D. Buss, Staff Editor, Area Development (Q4 2015)
Across the country, states and localities are working with manufacturers to create and grow outposts for advanced manufacturing. More

Critical Site Selection Factor #7: Right-To-Work State Often the First Factor in the Location Decision

Steve Stackhouse-Kaelble (Q4 2015)
Manufacturers often will not consider a state that’s non–right-to-work, but today that rules out about half the country. More

Emerging Clusters Take Up the Technology Challenge

Dale D. Buss, Staff Editor, Area Development (Q3 2015)
Rivaling the reigning tech hubs, city and state leaders are seizing opportunities to grow their cutting-edge electronic and digital sectors. More

MICHIGAN at a glance

POPULATION: 9,992,727 (2014)

LABOR FORCE: 4,808,017 (July, 2014)

RIGHT TO WORK: Yes

INDUSTRIES: Life sciences, advanced automotive technologies, advanced battery/electric vehicle mfg./development, homeland security/defense, LED (light emitting diode) lamps, alternative energy technologies, auto related R&D, advanced materials, telematics, tourism, agriculture, information technologies, micro- and nanotechnology, pharmaceuticals, medical devices, instrumentation and diagnostics, research and ancillary services

COLLEGE GRADUATES: (Age 25 and over) 25.3% (2014)

BASIC BUSINESS TAXES:
Corporate Income Tax: Michigan levies a flat 6% corporate income tax on firms structured as C corporations. Income for other business entities flows through to the owners' personal income taxes and is taxed at a flat personal income tax rate of 4.25%.

Sales and Use Tax: 6 percent; no local sales tax allowed; exemptions allowed for purchase of manufacturing equipment, energy used directly in manufacturing and pollution-control equipment.

Property Tax: Both real and personal property are assessed at 50% of current true cash value. Both real and personal property are assessed at 50% of current true cash value. The millage rate will depend on the taxing jurisdiction of the business site. Michigan's average non-homestead property tax rate was 49.20 mills, or $49.20 per $1,000, of assessed property. Commercial personal property is exempt from 12 mills. Available property tax abatements are negotiated locally. There is a 100% new personal property exemption available in specified communities. Also, 50% abatements for up to 12 years for real property are available to industrial processors and 50% abatements for up to 12 years for real and personal property for high tech companies. Rehabilitation projects can be abated 100%. As of August 5, 2014, Michigan began phasing out its Personal Property Tax (PPT) for qualifying personal property. More specifically, the term refers to all personal property located on real property where that personal property is used more than 50% of the time in industrial processes or in supporting industrial processes.

BUSINESS INCENTIVES:
Grants for business growth

Grants for downtown real estate redevelopment

Grants for downtown blight removal or public infrastructure expansion

Grants for small business development

Grants for technology R&D and commercialization

Loans for site assembly

Loans for business growth (senior debt, mezzanine debt)

Venture capital (angel, pre-seed, Series A+)

Tax abatement for real property development

Procurement assistance (defense contracts, federal contracts, business to business, first customer)

Site location and development assistance

Skills development

Administrative support for small businesses (pro-bono accounting, legal, HR and other services)

Business consulting

Export assistance

Employment matching (identifying and filling job openings)

Film and digital media incentives

Principal Manufacturing industries

  • Transportation Equipment
    27.7%
  • Fabricated Metal Products
    13.9%
  • Machinery
    12.1%
  • Food
    6.7%
  • Plastics & Rubber Products
    6.6%
  • Chemicals
    5.3%
  • Primary Metals
    3.8%
  • Furniture & Related Products
    3.7%
  • Other Manufacturing Industries
    18.3%
Source: http://milmi.org/admin/uploadedPublications/940_micaetmm.htm