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 Residential
Provides an exemption for the development and rehabilitation of residential housing located within eligible distressed communities.
- Benefit: New facilities are taxed at ½ non-Principal Resident Exemption state average tax rate. Rehab properties are taxed at full rate that is frozen at tax year prior to certificate approval until the final three years. Tax rate is adjusted final three years.
- Up 17-year term
- Targeted area: Citywide
Download the Neighborhood Enterprise Zone Act for more information.