I 69 international trade corridor nmdc overview pdf


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I 69 international trade corridor nmdc overview pdf

  1. 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 1
  2. 2. Introduction• 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
  3. 3. Our Next Michigan Board• Largest in Michigan with 35 municipal and county partners – Shiawassee, Genesee, Lapeer & St. Clair Counties
  4. 4. About the Corridor• Our region services as a gatewaybetween the Midwest US and Ontario, Canada
  5. 5. Our Next Michigan Board
  6. 6. 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 6
  7. 7. 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 7
  8. 8. 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 8
  9. 9. 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 9
  10. 10. 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 10
  11. 11. 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 11
  12. 12. 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 12
  13. 13. 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 13
  14. 14. 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 14
  15. 15. 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 15
  16. 16. 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 16
  17. 17. 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 17
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  19. 19. 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 19
  20. 20. Contact Us Paul J. Brakecitymanager@citygrandblanc.com (810) 694-1118 Justin Horvath jhorvath@sedpweb.org (989) 725-9241 20