3609 Wildwood
On busy intersection of Wildwood and Michigan Avenue. Currently used as car lot and office. Across from Jackson County Airport.
more information >>Business Incentives
Local Business Incentives
| Local Incentives | P.A. 198 Tax Abatement Industrial Property. Contact Amy Torres, (517) 788-4455. |
| Who is eligible? Criteria? | Michigan industrial plants which primarily manufacture or process goods
or materials by physical change. Related facilities of manufacturers such
as offices, engineering, research and development, warehousing or parts
distribution are also eligible. New plants: local unit of government is able to reduce the local millage by half, the MEDC is able to abate the 6-mill state education tax. |
| Program Description | 50% tax reduction in increased property taxes (real and personal) up to 12-years. Two-step local process: Establish an Industrial Development District around the perimeter of the property and then submit an application to the local clerk. |
| Any Fees Associated? | Fees vary and are established by the local governmental unit. |
| Time Frame | 30-60 days |
| Local Incentives | P.A. 328 Tax Abatement Personal Property Core Communities ONLY (City of Jackson). Contact Amy Torres, (517) 788-4455. |
| Who is eligible? Criteria? | Same as P.A. 198 Tax Abatement |
| Program Description | Companies can abate all new personal property taxes within the City of Jackson. Abatements include all millage, state and local. |
| Any Fees Associated? | Fees vary and are established by the local governmental unit. |
| Time Frame | 30-60 days |
State Business Incentives
| State of Michigan Incentives | Community Development Block Grant (CDBG). Contact Debbie Kelly, (517) 788-4455. |
| Who is eligible? Criteria? | Companies and LGU's committed to fund road, water and/or sewer infrastructure. |
| Program Description | $10,000 in grant monies for 1 job created or retained. 10% Local Match participation. 2 to 1 Leveraging Ratio by company. |
| Any Fees Associated? | Administration fees not to exceed $7,500. Pre-application costs not to exceed $5,500. |
| Time Frame | 60-90 days |
| State of Michigan Incentives | Economic Development Job Training (EDJT). Contact: Amy Torres, (517) 788-4455. |
| Who is eligible? Criteria? | Companies willing to work with private or public education providers to design the training. |
| Program Description | This program provides $31 million to companies for training and retraining employees. Funds awarded through a competitive process. Grants average $1,000 for a new employee and $500 for each existing employee. |
| Any Fees Associated? | Employer is required to match 25% of the grant. |
| Time Frame | n/a |
| State of Michigan Incentives | Michigan Economic Growth Authority (MEGA), Contact: Amy Torres, (517) 788-4455. |
| Who is eligible? Criteria? | Companies willing to work with private or public education providers to design the training. |
| Program Description | Regular MEGA: in-state expansion must create 75 new full-time jobs. Out-of-state businesses locating in Michigan must create at least 150. High-Tech MEGA: Expansion or location in Michigan must create 5 new full-time jobs and 25 new full-time jobs within 5 years. Business must not have announced the location. Tax credits must respond to the advantages the company would gain by expanding outside Michigan. |
| Any Fees Associated? | $5,000 fee to the State or $500 for high-tech applicants. Administration fee of 1/2 of 1% in the State of Michigan. |
| Time Frame | n/a |
| State of Michigan Incentives | Renaissance Zone designation, Contact: Amy Torres, (517) 788-4455. |
| Who is eligible? Criteria? | Three remaining regions designated as virtually tax free for any business or resident presently in or moving into a zone. Must be current on all property taxes in the state of Michigan to qualify. |
| Program Description | Companies and residents must be within a Zone at least 182 consecutive days to be eligible for Ren. Zone status. Duration of the Zone for up to 15 years (through 2015) with a three-year phase out. The tax relief will be phased out in 25% increments during the last three years of the program. |
| Any Fees Associated? | None! Businesses and residents must continue to pay Social Security tax, Unemployment Compensation, Workers' compensation, sewer and water fees, Property taxes resulting from local bonded indebtedness or special assessments and the 6% State sales tax. |
| Time Frame | n/a |
| State of Michigan Incentives | Michigan Business Tax Credit, through Brownfield Redevelopment Authority of Jackson County. Contact: Amy Torres, (517) 788-4455. |
| Who is eligible? Criteria? | Developers who want to return property to productive use. |
| Program Description | Qualified businesses claim a credit against MBT liability equal to 10% of the investment made on a Brownfield site. Total credit per eligible investment is $1 million. Credits are granted per project. Credits can go to a leasee or owner. As much as $30 million, but limited in the number that can be used. |
| Any Fees Associated? | $2,500 |
| Time Frame | n/a |
| State of Michigan Incentives | Federal & State of Michigan Historical Tax Credits. Contact Historic Preservation Network, (248) 625-8181. |
| Who is eligible? Criteria? | Building must be listed on National Registry, State of Michigan Registry or be designated as a Local Historical Site. |
| Program Description | 25% tax credits for rehabilitation and restoration projects. Expenditures must be equal to or greater than 10% of the SEV to qualify. |
| Any Fees Associated? | Application fee varies. An additional charge depending on the amount of money your rehab. project costs. |
| Time Frame | n/a |
Federal Business Incentives
| Federal Incentives | Industrial Revenue Bonds, granted by The Economic Development Corp. of Jackson County. Contact: Amy Torres or Debbie Kelly, (517) 788-4455. |
| Who is eligible? Criteria? | Any facility in the manufacturing, production, processing or assembly of tangible personal property. Non-profit organizations as well. |
| Program Description | Bond proceeds can only be used to acquire land, renovations, building and equipment. Bonds range from $1 million to $10 million in tax-exempt funds. |
| Any Fees Associated? | $2,500 application fee plus 2/10 of 1% of the total bond. |
| Time Frame | 60-90 days |
| Federal Incentives | Revolving Loan Fund, through the Economic Development Administration granted by The Economic Development Corp. of Jackson County, Contact: Amy Torres or Debbie Kelly (517) 788-4455. |
| Who is eligible? Criteria? | Companies that create or retain base jobs. Industrial, Commercial and Retail businesses are eligible. |
| Program Description | EDC must be in 2nd position. 2 to 1 Collateral and Leveraging Ratio. $10,000 for 1 job Lending Ratio. Maximum Loan: $200,000. Fixed Asset and Working Capital. Interest rate is typically 4.5%. |
| Any Fees Associated? | Fees are approximately $1,500. $100 NON Refundable Application Fee |
| Time Frame | 30 days |
| Federal Incentives | SBA 504 Loan Program, through U.S. Small Business Administration; Assistance through Jackson Small Business & Technology Development Center. Contact: Veronica Weaver, (517) 787-0442. |
| Who is eligible? Criteria? | For-profit corporations, partnerships or proprietorships that have a net worth of less than $7.5 million, average net profit after tax of less than $2.5 million for the past two years. The small business applicant must be the user of the fixed assets being financed. |
| Program Description | SBA 504 Loan Program provides long-term fixed rate financing for the acquisition or construction of fixed assets. Private lenders finance 50% of project costs, SBA covers 40%, and the small business must invest 10% of project costs. |
| Any Fees Associated? | Three types of fees: 1) a one-time processing fee equal to approx. 2 3/4% of the 504 loan for 20-year loans and 2 5/8% for 10-year loans. 2) a one-time participation fee equal to 1/2% of the bank's senior loan. 3) an on-going servicing and SBA fee on the declining loan balance. |
| Time Frame | 30 days |
| Federal Incentives | SBA 7 (a) Loan Program, through U.S. Small Business Administration; Assistance through Jackson Small Business & Technology Development Center. Contact: Veronica Weaver, (517) 787-0442. |
| Who is eligible? Criteria? | Retail and service businesses with annual revenues up to $20 million, depending on the industry, Wholesale business with employees up to 100, Manufacturers with employees up to 500, depending on the industry, and owner-user to occupy at least 51% of existing building or 67% of new construction. |
| Program Description | SBA 7 (a) Loan Program provides fully amortized, no balloon payment financing for real estate - up to 90% financing with maximum 25 year amortization, business acquisition - up to 80% financing with maximum 10-year amortization, machinery & equipment acquision - up to 100% financing with maximum 10-year amortization, debt refinance - up to 25-years, and SBA 7 (a) loans are assumable. |
| Any Fees Associated? | Down payment as low as 10% down. |
| Time Frame | 30 days |