House to Review Bill Package for Economic Developement in U.P.
MARQUETTE, MI – (Great Lakes Radio News) – Bipartisan legislation has been introduced in the Michigan House to spur economic development in Upper Michigan.
State Representatives Ed McBroom and John Kivela have sponsored a two-bill package expanding the state’s Next Michigan Development Act to authorize a sixth partnership zone in the U.P. The legislation calls for the creation of the new zone because five zones previously authorized two years ago have all been activated downstate.
The partnerships allow for agreements between two or more municipal governments to offer a combination of business and personal tax breaks, tax increment finance plans, and renaissance zones designed to stimulate local economies. The program is operated through the Michigan Strategic Fund.
The bills have been assigned to the House Commerce Committee for review.
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