Financial Report

INCENTIVES

The Hart Economic & Redevelopment Team specializes in working with prospective and existing businesses to secure financial assistance for businesses in Hart.  We are also dedicated to providing assistance to businesses seeking to locate or expand in Hart.  

Opportunity Zone

Tax incentives for Michigan manufacturers to build, expand or renovate including machinery and equipment.

As a designated Opportunity Zone, incentives are available for capital investments in low-income communities nationwide. There are three types of tax incentives that relate to the treatment of capital gains, each of the incentives are connected to the longevity of an investor’s stake in a qualified Opportunity Fund (QOF)that provides the most upside to those who hold their investment for 10 years or more.

Industrial Facilities Exemption (P.A. 198)

Tax incentives for Michigan manufacturers to build, expand or renovate including machinery and equipment.

The Industrial Facilities Exemption provides a tax incentive to manufacturers to enable renovation and expansion of aging facilities, assist in the building of new facilities, and promote the establishment of high-tech facilities.  An (IFE) certificate entitles the facility to exemption from ad valorem real and/or personal property taxes for a term of 1-12 years as determined by the local unit of government. 

SCORE

Free professional small business counseling service (non-profit) 

SCORE provides confidential business advice through our network of 10,000 volunteer business experts via video chat, face-to-face or email.

TIFA Property Improvement Grant 

Up to 50% match for commercial exterior improvements within the TIFA district

This program provides a matching grant for improvements within the TIFA District. It is a competitive grant program. For every dollar awarded the applicant must spend an equal amount. Individual grant amounts will be up to 50 percent of owner investment. The grant program is funded by the City of Hart TIFA with funds raised through its revenues. Grant applications will be reviewed by the City of Hart TIFA Board. There is no set minimum or maximum number of projects per year.

State Incentive Programs 

Explore incentives through the Michigan Economic Development Corporation 

Michigan has established several state and local economic development resources that provide support for companies investing and expanding their operations and workforces in Michigan communities.

Product or Service Matchmaking 

Connecting you to the regional supply chain 

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Brownfield Redevelopment

Redevelopment incentives for blighted or functionally obsolete properties

The Remediation and Redevelopment Division provides financial and technical assistance including grants, loans, tax increment financing and free site assessments to facilitate the redevelopment of brownfield properties. 

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Hart Economic & Redevelopment Team

49 S State St, P.O. Box 449

Hart, MI  49420

231.301.8449  |  info@takemetohart.org

City of Hart, Michigan 2020 All Rights Reserved

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