Parma-Sandstone Certified Business Park
In 1989, the Village of Parma and Sandstone Township created the Village of Parma Local Development Finance Authority (PLDFA) primarily for the purpose of funding the infrastructure needs of an industrial development for Michigan Automotive Compressor, Inc. (MACI). The Authority has added Galaxy as a tenant in an effort to bring additional investment and job growth to the community. Governed by Public Act 281 of 1986, an LDFA uses tax increment financing (TIF) in an effort to develop areas with the highest potential for development. The tax increment financing plan and development plan are necessary for the LDFA to capture the taxes. LDFA Tax Increment Financing (TIF) captures taxes generated from new capital investment within the district, with the exception of school and debt millage. The TIF can be used for project-related infrastructure improvements (i.e. road, water, sewer, site development).
The Parma-Sandstone Certified Business Park is targeting the following types of businesses to locate within the Parma-Sandstone LDFA Certified Business Park: Manufacturing, Agricultural Processing, High Technology, and Energy Production.
Reference Files:
Parma LDFA Development Packet
View more park information on the Michigan Economic Developers Association (MEDA) Web site:
Parma Sandstone Certified Business Park