Economic Development Tools

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.

Commercial Redevelopment Act

Commercial Rehabilitation Act

Economic Development

Corridor Improvement Authority

Downtown Development Authority

Financing Tools

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.

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