The Southtown Corridor Improvement Authority will hold a special meeting on Wednesday, September 27, 2023, at 3:00 PM at Inner-City Christian Federation Community Center, 400 Martin Luther King Jr. St. SE Grand Rapids, MI 49507.If you have any questions, you may contact the Economic Development Office at 616-456-3431.
Southtown CIA Page
The Plant Rehabilitation and Industrial Development Act can provide a property tax exemption to manufacturers and high technology companies that are renovating or expanding existing facilities, or constructing new facilities. In evaluating a project, the City will look for the applicant to be retaining and/or creating good jobs in Grand Rapids.
Projects approved for this incentive will be making investments that will increase the amount of property taxes that would be due at the project's property. The tax exemption limits the amount of new taxes that will be paid for a period of up to 12 years. For new or expanded facilities, the reduction is approximately 45%. For the renovation of obsolete facilities, it can be as high as 100%.
Applications are filed with the Economic Development office, and the instructions and necessary documents can be found below. Please note that it can take up to 4 months to evaluate a project and process an application for approval, which must include a public hearing at a City Commission meeting. Once approved by the City Commission, the application is sent to the State Tax Commission for final approval.
Your first step to exploring eligibility for this program is to contact our office to discuss the project and its qualifications.