Infrastructure—water, sewer, electricity, broadband, telecommunications, transportation networks, and more—is integral to the growth of businesses and the quality of life of residents. Michigan offers a number of programs to support infrastructure investment.
Economic Development Administration Programs
Economic Development Administration is a federal agency that provides grants to lower income communities throughout the U.S. on a competitive basis. Investment programs are found in a variety of areas, including planning related to economic development and upgrading infrastructure where it will lead to permanent job creation.
Local Development Finance Act
Local Development Finance Act (Public Act 281 of 1986) allows a city or village to utilize tax increment financing to fund public infrastructure improvements, land acquisition, demolition, site preparation, and more. A Local Development Finance Authority is typically formed around an industrial park, as the properties eligible for tax capture are only manufacturing, high-technology, or value-added agricultural processing.
Michigan Department of Transportation Programs
Michigan Department of Transportation (MDOT) administers various programs that help to improve and maintain the State’s transportation networks. They offer an economic development program provides grants that contribute to transportation projects that support expansions in agriculture or food processing, tourism, forestry, high technology research, manufacturing, mining or large office centers.
U.S. Department of Agriculture Rural Development Programs
U.S Department of Agriculture Rural Development provides grants and loans for rural communities. Their financing portfolio is extensive: rural housing, business and cooperative development, energy efficiencies, value-added agriculture ventures, utilities and community facilities, telecommunications and broadband build out, to name a few.
The NLEA serves both current and prospective companies in Northern Lower Michigan, providing one-stop assistance for location, innovation, and growth.