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The Michigan Economic Development Corporation (MEDC) is helping to transform the Michigan economy by growing and attracting business, keeping talented residents in the state and revitalizing urban centers. billion in investments and add 4,590 jobs in Michigan. Michigan was chosen over competing sites in Iowa and Mexico.
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Using a formula that takes into account the new tax revenues generated by the 1,612 new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $54 million paid over 12 years. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business.
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CAPCO financing, an alternative to conventional bank financing, can accommodate a slightly higher risk profile and provide a more flexible structure for growing businesses. Terms for both are normally 10-20 years and can finance up to 100% of the project costs. ALABAMA - updated for 2014. They are: The Renewal Program.
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