Ann Arbor Business Funding & Incentives
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Helping Your Business Uncover Resources
Financial incentives are available to assist businesses making a significant investment in the greater Ann Arbor region and SPARK can help you find them. SPARK has years of experience managing state and local incentive programs and can save you time and ease the burden of going through the process. SPARK will explain how these incentives impact business expansion decisions to potentially decrease costs and increase profitability.
The information below provides a snapshot of the state and federal programs available to qualified businesses. For a full assessment, contact Phil Santer, SPARK Vice President of Business Development, at Phil@AnnArborUSA.org.
State & Local Incentives:
Pure Michigan Asset-Based Economic Development Incentives are available. The Michigan Economic Development Corporation has a pool of $175 million available to qualified firms that are growing in or relocating to Michigan. The pool is split into the following funds:
- $100 million for attraction and economic gardening
- $25 million for business acceleration
- $25 million to support film and digital media industry
Review our PA 198 Best Practices age to learn more- Industrial property tax abatements provide incentives for eligible businesses to make new investment in Michigan. These abatements encourage Michigan manufacturers to build new plants, expand existing plants, or renovate aging plants. High-technology operations are also eligible for the abatement.
Financing and State Funded Programs
The Michigan Economic Development Corporation offers funding incentive programs to assist companies interested in growing their business in Michigan. These programs include access to capital, export assistance, private activity bonds and more.
Private Activity Bonds Private activity bonds are an attractive source of financial assistance to economic development projects in Michigan. They provide profitable firms with capital cost savings stemming from the difference between taxable and tax-exempt interest rates.
Small Business Administration (SBA) Whether you’re just starting a small business or expanding to take advantage of new opportunities, your business needs the right financing at the right time in order to succeed. SBA is committed to helping small businesses, which are the backbone of the nation’s economy, thrive. Working closely with a wide range of lending partners across the country, SBA has developed a number of financial programs that address the various needs of small businesses.