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.
MEDC Business Development Program-BDP – State sponsored performance based grants/loans for highly competitive project creating a minimum of 50 jobs. Statutory limit on any loan or grant is $10M depending on business case and need for the program.
MEDC Community Revitalization Program-CRP – State sponsored performance based grants/loans targeted for the renovation of blighted, functionally obsolete or historic resource sites within targeted investment areas. Will not exceed 25% of eligible investment.
MEDC Michigan Collateral Support and Loan Participation Programs – The Collateral Support Program and Loan Participation Programs seeks to enable companies to acquire the necessary financing that might otherwise be unavailable due to a collateral shortfall and/or cash flow shortages according to the lender’s analysis.