![]() A maximum of $38,114,899 construction period sales and use tax exemptions.A maximum of $11,422,200 in construction period tax capture.State tax capture of up to $167,739,071.MSF today approved a Transformational Brownfield Plan valued at $614.9 million that authorizes several sources of tax capture in support of the project: The completed project is expected to generate a total capital investment of $1.53 billion, create 12,000 construction jobs, and when fully occupied, could result in the creation of up to 5,790 full-time jobs. The planned urban density and modern design of planned office and commercial space will be highly attractive to new businesses seeking to locate and expand, making Detroit nationally and internally competitive for new talent and businesses. When completed, the 10 projects will link downtown, midtown, and surrounding neighborhoods and aim to attract leading businesses, entrepreneurs, institutions, and innovators, through innovation that is anticipated to propel job creation and inclusive economic growth in Detroit. ![]() The four residential projects will include a total of 695 units, with 139 units reserved for residents with incomes at or below 50 percent of area median. The projects include mixed-use buildings for retail and office spaces, residential units, and a four-story Detroit Center for Innovation Incubator, as well as the adaptive reuse and renovation of the historic Fox Office Building into a hotel. ![]() Related Companies and Olympia Development of Michigan (ODM) received MSF approval of a Transformational Brownfield Plan for its project, The District Detroit, a mixed-use development that includes the rehabilitation of four buildings, three of which are historic, and construction of six mixed-use buildings in an area of Detroit anchored by Little Caesars Arena. The District Detroit will bring $1.5 billion investment, 6,000 permanent jobs to Detroit Together, we will make Michigan the best state to live, work, and invest. Our economic development strategy is an all-of-the-above approach, as we simultaneously work to bring manufacturing jobs and supply chains home while building housing and investing in community revitalization efforts. “Year over year, our economy has added 75,000 jobs, and we are building on our strong economic momentum with today’s investments. “Today’s economic development approvals will create over 6,400 jobs, build nearly 700 housing units, revitalize downtowns across the state, and advance Michigan’s leadership in the future of mobility,” said Governor Whitmer. Today’s projects will strengthen Michigan’s leadership position in future mobility and advanced manufacturing, and revitalize communities across both peninsulas. – Governor Gretchen Whitmer joined the Michigan Economic Development Corporation today in announcing Michigan Strategic Fund approval of a wide range of projects underscoring the state’s dedication to making Michigan a business-friendly state and supporting projects that create places for talent and visitors alike to enjoy and build a future. to establish first autonomous dredge company in the world in Shiawassee County MSF support for Statewide Housing Plan underscores Team Michigan’s whole of government approach Revitalization projects create new housing, placemaking improvements in Haslett, Manistee, Marquette District Detroit project helps city continue to compete on national, global scale May Mobility expanding autonomous shuttle fleet in Ann Arbor, creating 300 high-wage jobs LJ, Inc.
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