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High Unemployment Areas Offer Aggressive Incentives to Expanding and Re-locating Businesses

Jennifer LeClaire  (Dec/Jan 10)
High-unemployment states are working to drive economic development, but does an available labor pool translate to an ideal location in a down economy? More

Front Line: Inflection Point for U.S. PV Manufacturing

Area Development Online Research Desk (Nov 09)
The global PV (photovoltaic) industry is entering a period of dramatic transformation. More

States Use Incentives to Attract Renewable Energy Business

Richard K. Greene, Senior Associate, The Williams Group Real Estate Advisors (Nov 09)
As the economy recovers, one particularly bright spot will be manufacturing for the renewable energy industry, which is already enjoying healthy popular and government support. More

Highway Access/Frontage Still at the Top

Dan Calabrese (Nov 09)
Although the nature of business has changed through the years, highway access and frontage still rank high among site selectors. More
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Michigan  At A Glance
POPULATION: 10,003,422 (2008)

LABOR FORCE: 4.936,000 (2008)

RIGHT TO WORK: No

INDUSTRIES: Life sciences, advanced automotive technologies, homeland security/defense, 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) 24.5% (2007)

BASIC BUSINESS TAXES:
Michigan Business Tax
(effective Jan. 1, 2008): 4.95 percent of business income in Michigan, .08 percent of modified gross receipts in Michigan (minus purchases from other firms), and a 21.99 percent surcharge on the tax liability before credits; tax is apportioned to Michigan on a 100 percent sales factor; there is a 35 percent credit for taxes paid on owned industrial personal property; tax credits provided for capital investment, R&D expenditures, and compensation; certain small businesses may use an alternative 1.8 percent profits tax; filing threshold of $350,000 in Michigan gross receipts

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: Assessed at 50 percent market value; assessment increases limited to 5 percent or inflation, whichever is less; owned industrial personal property gets automatic 24-mill exemption and commercial property gets a 12-mill exemption; a variety of property tax abatements are available

BUSINESS INCENTIVES:
MIchigan Business Tax Credits
(for capital investment, R&D expenditures and compensation, defense contracts, anchor district)
21st Century Jobs Fund
21st Century Investment Fund (available to venture capital, mezzanine, and private equity funds with a Michigan focus)
Michigan Economic Growth Authority (state tax credits for job creation and retention, including high-tech and alternative energy)
Michigan Supplier Diversification Fund
Film and media production, infrastructure credits
Entrepreneurial credit
Tax-Free Renaissance Zones
Tax-Free Tool & Die Recovery Zones
NextEnergy Zone (tax-free for alternative energy)
Smart Zones (high-tech clusters of businesses and resources)
Private Activity Bond Program (taxable and tax-exempt)
Job training grants
Brownfield redevelopment state tax credits and TIF
Capital Access Program
Community development block grants (for economic development)
Industrial and high-tech property tax abatement
SelectSites Program (prime properties ready for development)
Web access to Commercial Property Info Exchange (CPIX)
Foreign-trade zones
Certified business parks
Technology and productivity consulting
Ombudsman services
Worker recruitment assistance
Permit coordination
Site proposal assistance
Michigan Chart
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