Detroit welcomes businesses from around the world and around the block by offering a variety of financial resources and incentives. These programs are specifically targeted to inspire economic growth for relocating or expanding businesses. From tax abatements and Brownfield plans to workforce development training, Detroit offers the solutions businesses need to be successful.
Why Detroit Incentives and Financing
The Detroit Next Michigan Development Corporation Renaissance Zone offers an exemption or waiver of most taxes for businesses that locate new facilities in Detroit’s employment corridors that result in substantial investment and job creation opportunities.
- Business shipping tangible personal property via multimodal commerce
- Supply chain business providing most of its services to businesses that ship tangible personal property via multimodal commerce
- Manufacturing or assembly facility shipping or receiving most of its production components via multimodal commerce
- Multimodal commerce involves the physical movement or flow of goods via (2) or more of the following modes: highways, railways, deep water ports or airports.
- Light manufacturing facility that package, kit, label or customize and ship products via multimodal commerce
- 100% Real Property Tax Exemption
- 100% Personal Property Tax Exemption
- 100% Corporate Income Tax Waiver
- 100% Utility Users Tax Waiver
- Awarded for a period of up to 10 years
The Detroit Brownfield Redevelopment Authority was established to promote the revitalization of environmentally distressed and blighted areas in the city. Developers of properties that qualify as contaminated, blighted or functionally obsolete and are part of an approved Brownfield plan may be eligible for Tax Increment Financing for both environmental and non-environmental activities, such as:
- Baseline environmental assessments
- Due care activities
- Lead or asbestos abatement
- Site preparation
- Public infrastructure improvement
Download the DBRA Tax Increment Financing Information Sheet for more information.