The City of Lansing and
Dewitt Township plan to form a Next Michigan Development Zone, creating an "aerotropolis" with a cluster of manufacturing, distribution, technology and other businesses surrounding the
Capital Region International Airport.
According to excerpts from the article:
Local officials hope to spur economic development around Capital Region International Airport through a series of tax breaks and other business incentives.
"In order to compete not just here in Michigan, but with other similar international development programs around the country, we've got to have an incentive package that enables us to recruit businesses to our region," said Bob Selig, executive director of the Capital Region Airport Authority, which oversees the airport
The state in December approved legislation to allow up to five of these zones to offer a variety of tax advantages to companies located there, such as property tax abatements or Renaissance Zones that eliminate most state and local taxes for a certain period.
In order for a company to take advantage of the program, it would have to be a new venture or an expansion of an existing one. It couldn't simply transfer operations from another site.
The Lansing City Council and DeWitt Township board should discuss the issue in the next 30 to 60 days, said Rodney Taylor, DeWitt Township's manager.
Read the entire article
here.
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