For immediate release
February 16, 2016
Contact: Eric Lupher
Citizens Research Council Updates Economic Development Program Resource
As Michigan’s economy continues its recovery from a prolonged recession, both state and local officials are renewing their focus on economic development efforts. In 2015, both policymakers and the media turned their attention on state and local efforts to attract a large Nevada-based data center campus to Grand Rapids. Flint’s water infrastructure needs and the long-term consequences of its contaminated water supply are renewing interest in the challenges of attracting and retaining businesses to this already struggling city. Throughout Michigan, municipalities, counties, and the state are constantly engaged in efforts to expand their tax bases by attracting companies to their communities.
The Citizens Research Council of Michigan has updated a valuable tool in these economic development efforts, the Survey of Economic Development Programs in Michigan. Now in its Third Edition, the Survey is a resource for citizens, businesses, and government officials to understand the tools available.
Although a few new tools have been made available to local governments since publication of the Second Edition in 2007, the major evolution of economic development programs between 2007 and 2016 was the cessation of business tax credits offered through the Single Business Tax and its successor, the Michigan Business Tax.
The 2016 edition provides information on 43 economic development tools available at the federal, state, and local government levels. The Survey describes programs such as grants, loans, tax abatements, tax increment finance authorities, and job and employment training programs. Each description provides basic information and links to additional resources and applications on federal and state websites. Previous editions of the Survey of Economic Development Programs in Michigan have been accessed more than 300,000 times over the years.
Founded in 1916, the Citizens Research Council of Michigan works to improve government in Michigan. The organization provides factual, unbiased, independent information concerning significant issues of state and local government organization, policy, and finance. By delivery of this information to policymakers and citizens, CRC aims to ensure sound and rational public policy formation in Michigan. For more information, visit www.crcmich.org.