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S avings no company can afford to ignore

Midlink Business Park includes 110 acres of land that has been designated by the State of Michigan as a Tax- Free Renaissance Zone which waives virtually all state and local taxes through 2017. These include: • Real and Personal Property Taxes (2004 Rates) • State Education Tax (SET) – 6 mils • Local Property Tax – 32.9595 mils

• An additional 6.9250 school debt / special assessments mils is not abated

• Single Business Tax (Michigan’s corporate income tax)

Beginning in 2015, there is a gradual phase-in of tax liability. Seventy-five percent of the eligible taxes are abated in 2015, 50% in 2016 and 25% in 2017.

T aking advantage of the tax savings is simple

Moving your business into the Renaissance Zone automatically entitles you to the savings. There are no lengthy application processes or performance clauses for job creation, just a simple notification to the Michigan Department of Treasury by the Charter Township of Comstock that you are located in the Zone.

A dditional tax incentives and grants may be

available *

These include:

• MEGA (Michigan Economic Growth Authority) which provides up to a 20-year tax credit for job creation and business investment.

• Industrial Facilities Tax Exemption (P.A. 198) which provides up to a 50% abatement on property taxes for industrial development projects, including new construction and the purchase of new machinery/equipment. The maximum exemption period is 12 years for real property and 6 years for personal property, subject to local government approval, which has been very supportive.

• Tax Exempt Bonds available to eligible businesses that bring job development. • Economic Development Job Training (EDJT), which provides grants for job training.

• For other community benefits and support contact: Michigan Economic Development Corporation

In addition to tax abatements, local community and state governments offer outstanding support and cooperation to Midlink Business Park and its tenants.

Example: Based on a 126,000 SF building located on 10 acres in Midlink’s Renaissance Zone in 2007. (go to midlink.com for interactive calculator)

Real Property

Land value for 10 acres: $ 700,000 Building value ($50/SF): $ 6,300,000

Personal Property

Machinery & Equipment: $ 3,700,000 Furniture & Fixtures: $ 500,000 Computers: $ 300,000

Employment Projections

150 new jobs with an average annual wage of $27,000

Real Property: $ 1,328,379 Personal Property: $ 454,973 Single Business Tax: $ 609,640

Total Tax Savings: $2,392,992 (2007 through 2017)

*The above calculation is only intended to provide an example of how the Renaissance Zone calculation could beneft a business locating in the zone. Actual tax savings calculations can and will vary. Midlink Business Park advises the use of a certifed accountant familiar with company specifc investment and employment numbers to determine actual tax savings.

* subject to state and local government approval

SM

All information contained herein is provided as is, without warranty. Callander Commercial does not assume any liability for errors or omissions.

Tax I ncen t i ves