The company, the principal subsidiary of CMS Energy Corp., is Michigan's largest utility providing natural gas and electricity to more than 6 million of the state's 9.9 million residents in all 68 Lower Peninsula counties.
State officials recently approved $11.9 million in tax increment financing that will enable the city of Jackson to build two major parking decks and make other infrastructure improvements in support of Consumers Energy's new corporate headquarters.
The structures will be located on a designated brownfield site that was identified in 1997 as a blighted area, and will provide 1,040 new parking spaces for Downtown Jackson.
"By making use of Michigan's brownfield redevelopment laws, the city of Jackson is transforming a previously unused area into something productive and aesthetically pleasing for the community," says Doug Rothwell, president and CEO of the Michigan Economic Development Corp. "This transformation is destined to lead to further economic development and commercial investments in the city."
The action is another in a series taken by the MEDC to assist the city of Jackson and Consumers Energy make the new corporate headquarters a reality.
In January 2001, the MEDC provided a $1-million Urban Land Assembly Loan so the city could acquire the property needed for the project. In March 2001, the corporation approved an $8.6-million Brownfield Single Business Tax credit to Consumers Energy to help the company with the costs of demolition, environmental cleanup and other remedial actions at the 10-acre site.
Recent amendments to the Brownfield Redevelopment Financing Act allow a brownfield authority to capture property taxes for an expanded set of activities, including infrastructure improvements, demolition of structures and site preparation.
The approval from the MEDC will allow the city of Jackson to capture up to $11.9 million in state taxes to help fund the headquarters project.
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