Greater Lansing Area Offers Major Building Incentives

Lansing, MI – You should buy when the market is down, and sell when the market is up. In today’s economy, there are no better words to live by. Lansing and the rest of Michigan recognize this and are working hard to create incentives to ensure that business owners get their chance to purchase property and grow their businesses during this opportune time.

Kincaid Henry was recognized by the Michigan Downtown Conference for turning an abandoned school building into a high tech medical facility with the incentives put in place by the Lansing Brownfield Development Authority. This group, a branch of the Lansing Economic Development Company, offers financial and tax incentives to businesses for cleaning up and redeveloping contaminated and obsolete sites within the city. Buildings that are currently abandoned can now be turned into high tech office spaces and retail areas for growing companies for cheaper than ever before.

Luckily for entrepreneurs looking to expand their businesses, Lansing has three designated local historic districts that qualify for historic tax credit. The state tax credit equals 25% of qualified capital expenditures which may be used over 10 years. These hot spots are located in the Cherry Hill Historic District, Ottawa/Walnut Historic Districts and Darius B. Moon House Historic District. If the charms of these properties are not captivating enough, the incentives to restore these buildings make these areas ideal for small businesses.

Even the state of Michigan is offering incentives to improve its economy. The Michigan Business Tax rewards investment in capital, jobs, and R&D. It also provides small businesses and personal property tax relief.

Businesses and individuals interested in more information can contact Kincaid Henry Building Group to maximize growth and savings.

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