Economic development is a vital piece of the puzzle in creating vibrant, successful communities. There are tools available for local communities to create revenue streams to help finance economic development in specific areas of a community. Below is a compilation of One-Pager Plus Fact sheets on specific tools.
Economic Development
Corridor Improvement Authority
Downtown Development Authority
Local Development Financing Authority
Neighborhood Improvement Authority
Waterfront Tax Increment Financing
In addition, the Michigan Economic Development Corporation has great resources available on its website detailing each economic development tool and their structure. This information can be found here Michigan Business – Fact Sheets.