Whitmer OKs extending development tax incentives by 5 years
LANSING, Mich. (AP) — Michigan developers with "transformational" plans to redevelop brownfield sites can continue to seek tax incentives after Gov. Gretchen Whitmer and the Legislature extended the program for an additional five years.
The state’s economic development board can approve new projects through 2027, instead of 2022, under a bill signed last week.
The law, which was enacted in 2017, lets developers keep income and withholding taxes from people who live and work at the sites along with sales taxes associated with construction.
Brownfields are contaminated, blighted, functionally obsolete or are historic properties.