Because the 5.3-acre property, formerly owned by CSX rail, is located within the Saginaw Northeast Renaissance Zone, the business will operate free of state and local taxes. MPM, a manufacturer of machine power train parts, is expected to invest $6.6 million in the new facility.

Meanwhile, Petoskey Pointe Associates, LLC will use a $330,700 credit to help redevelop contaminated property located at 200 W. Lake St. in Petoskey in northwest lower Michigan. The developer plans to demolish the existing building to make way for a 27,520-sf building to house 16 condominium units. The city of Petoskey is capturing $392,942 in local taxes to help prepare the property for redevelopment.

"Michigan has one of the top brownfield redevelopment programs in the nation, and these sites are perfect examples of what the program can do," says Michigan Economic Development Corp. president and chief executive officer Don Jakeway. "The credits will create opportunities for jobs and investment at sites that were thought to be untouchable by developers because of the liability associated with redeveloping them."