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Tax Breaks Spur $158M in Private Investment

LANSING, MI-In support of jumpstarting Michigan's economic development, the state is issuing brownfield tax credits for six newly announced developments. According to Gov. Jennifer M. Granholm, the credits have incited private investment dollars.

By Dan Heaton | Updated on August 03, 2005

LANSING, MI-The State of Michigan says brownfield tax credits are spurring six newly announced developments around the state. Gov. Jennifer M. Granholm said Monday that the projects represent a total of more than $158 million in private investment.

The projects include 1234 Michigan LLC, which will receive $592,000 in tax capture funds to transform a former US Army Armory site located near Fuller Avenue and Michigan Street in Grand Rapids into a two-story multi-tenant medical office building. The developer will invest $6.6 million to demolish the existing structures and construct the 40,350-sf building and underground parking facility.

Big Sky Development will invest $6.9 million to transform the former Wohlert manufacturing plant in Lansing to accommodate a US Storage Depot facility and additional commercial office space.

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