I 69 international trade corridor nmdc overview pdf
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1 I-69 International Trade Corridor Discover the Business Advantage IEDC Leadership Summit – Orlando, FL January 28, 2013 By Paul J. Brake, CEcD City Manager, City of Grand Blanc Justin Horvath, CEcD President/CEO, Shiawassee Economic Development Partnership
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Transcript of I 69 international trade corridor nmdc overview pdf
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I-69 International Trade Corridor Discover the Business Advantage
IEDC Leadership Summit – Orlando, FL January 28, 2013
By
Paul J. Brake, CEcD City Manager, City of Grand Blanc
Justin Horvath, CEcD President/CEO, Shiawassee Economic Development Partnership
• 2010 Michigan legislation allows for up to five Next Michigan Development Corporations
• Participants must be local municipal and county – parties to an Interlocal Agreement
• Next Michigan Boards are authorized to grant project-based tax incentives to multi-modal businesses
Introduction
Our Next Michigan Board
• Largest in Michigan with 35 municipal and county partners
– Shiawassee, Genesee, Lapeer & St. Clair Counties
About the Corridor • Our region services as a gateway
between the Midwest US and Ontario, Canada
Our Next Michigan Board
Our Next Michigan Board • The NMDC is an independent self-governing
entity, managed by a board with representatives from participating municipalities.
– Revenues sources from member municipalities
– Receives administrative support from Genesee Regional Chamber of Commerce and Prima Civitas Foundation
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Advantages of Next Michigan
• Important new component of regional economic development efforts
– Supports business – existing and new
– Multi-modal focus encourages trade and transport
– Unique incentives for qualified projects
– Municipal collaboration across the region
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Supporting Investment & Jobs
• Projects can be considered for Next Michigan support if…
– Location is within participating municipality
– Firm uses multiple modes of freight transportation
– Project is growth, not in-state relocation
• Businesses can access information through four county-wide economic development agencies
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Supporting Investment & Jobs
• Next Michigan Development Corp incentives
– 50% tax abatement on new real & personal property
– 100% tax abatement on new personal property
– Formation of tax-free Renaissance Zones is expected to be completed mid-2013
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Steps to Success
• Form Renaissance Zone Districts ─ Identify & evaluate potential sites ─ NMDC selects sites based on advice of Economic
Developers and MEDC ─ NMDC submits sites to Michigan Strategic Fund for
approval
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Why become a Qualified Eligible Next Michigan Business
⁻ Certified as an eligible business gains opportunity for Renaissance Zone Tax Abatements
⁻ An Eligible Next Michigan Business is multimodal ⁻ Within a renaissance zone, a business may apply to
NMDC for certification as a Qualified Eligible Next Michigan Business
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What we have learned from the collaborative partnership
• The Corridor shares a common vision and mission of promoting economic prosperity ⁻ Target regional strategy on the existing and
competitive advantages ⁻ Implementation framework that is result oriented,
focused on aligning and leveraging resources
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What we have learned from the collaborative partnership
• Engage stakeholders on a broader scale - Forum to educate about partnerships underway - Encourage partnerships among sectors in the
corridor - Groups show willingness to collaborate across
county lines
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What we have learned from the collaborative partnership
• Maximize Resources to Communicate a Message ⁻ Leverage funds through other NMDCs ⁻ Explore joint advertising opportunities through
national media outlets ⁻ Work in coordination with Michigan Economic
Development Corp
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What we have learned from the collaborative partnership
• Overcame longstanding barriers that existed previously because of political boundaries and/or silo mentalities - The corridor has built trust amongst a diverse
membership - Intercommunication is key - Organizational structure promotes equal
representation & leadership
Project News
• Pinnacle Foods expansion in Imlay City
– 29 new jobs; 249 existing + 300 seasonal
– Facility and equipment expansion
- $14.3 million investment
⁻ Retention of legacy business
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Project News
• Pinnacle Foods expansion in Imlay City
– Next Michigan tax abatement support
• 100% tax abatement on new personal property
• Additional support from Imlay City and MEDC
– Local, regional and state impact
• Jobs, services, and raw materials
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Conclusion
• Next Michigan Development Corp benefits
– Showcases regional collaboration
– Highlights region’s assets and business advantages
– Delivers unique incentive options in participating municipalities
– Focus on businesses in trade and transport sectors
– Supports new investment and jobs
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Contact Us
Paul J. Brake [email protected]
(810) 694-1118
Justin Horvath [email protected]
(989) 725-9241
