Whitmer OKs extending development tax incentives by 5 years | www.WDIO.com

Whitmer OKs extending development tax incentives by 5 years

Whitmer OKs extending development tax incentives by 5 years

WDIO
Created: December 28, 2021 10:57 AM

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.

Copyright 2021 The Associated Press. All rights reserved.

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