Incentives

As a Next Michigan Development Corporation, the Detroit Region Aerotropolis offers the following incentives to eligible new and expanding businesses:

Industrial Facilities Tax Exemption (PA 198 of 1974)

An Industrial Facilities Exemption certificate can be used to obtain a 50% property tax reduction for new, qualified real and personal property for a period of up to 12 years.

New Personal Property Tax Exemption (PA 328 of 1998)

Offers a 100% property tax exemption for an unlimited number of years on new personal property for companies within certain industries.

Local Development Finance Authority (PA 281 of 1986)

This incentive gives the Detroit Region Aerotropolis the authority to utilize tax increment financing to fund public infrastructure improvements. There are several financing options for LDFA activities that allow for the capture of incremental growth of local property taxes over a period of time to fund these improvements. There is also a suite of other incentives available. Click here for more info.

Renaissance Zones (PA 376 of 1996)

A Renaissance Zone offers 100% relief from both real and personal property taxes and, if applicable, city corporate income tax. A Renaissance Zone may be approved for up to 10 years and is phased out in 25% increments in the last three years. The Renaissance Zone works in conjunction with the designation of a Marketing Zone within the NMDC.