X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DETROIT-The Michigan Economic Development Corp. has created new “Border-to-Border” Renaissance Zones to spur private investments and job creation in 10 Michigan locations. Businesses and individuals within the Border-to-Border Renaissance Zone willbe exempt from nearly all state and local taxes from January 1 through 2011.

The zone will include a about 633 acres in the following locations:

* Belding (Ionia County)

* Middleville Village (Barry County)

* Coldwater (Branch County)

* Hudson (Lenawee County)

* Morenci (Lenawee County)

* Crystal Falls (Iron County)

* Escanaba (Delta County)

* AuGres (Arenac County)

* Gladwin (Gladwin County)

* Big Rapids Township (Mecosta County)

Eric Zuzga, executive director of the Branch County Economic Growth Alliance, says he is optimistic that the new zones will lead to new economic development and jobs in Branch County, as well as in the other locations.

Created in 1996, the Renaissance Zone program sets aside geographic areas of the state as virtually tax-free for any business or resident located in or moving to one of the zones.

The MEDC and local communities use the zone’s tax-free status to encourage development in areas that are economically distressed.

Since the program’s inception, the zones have led to new private investments of more than $1.3 billion and created more than 5,800 jobs.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.