Economic Development Corporation

• Mayor Sheldon Neeley
• President of the Board of Directors
• Board Roster:
• Mayor Sheldon Neeley – President
• Councilman Herb Winfrey
• Councilman Maurice Davis
• William Hammond
• Derwin Munroe
• Richard King
• 3 vacant resident slots

Welcome to the Economic Development Corporation

The Economic Development Corporation of the City of Flint can provide assistance with financing, property tax abatements and identifying suitable business locations.

Our Mission

• to assist and retain local industries and commercial enterprises
• to strengthen and revitalize the economy of the State of Michigan and particularly the City of Flint
• to provide the means and methods for the encouragement and assistance of industrial and commercial enterprises in locating and expanding
• to encourage the relocation and expansion of commercial enterprises to more conveniently provide needed services and facilities of the commercial enterprises to the City of Flint and residents

Small Business Financing

The purpose of the EDC’s financing programs is to provide gap financing to start up and expanding businesses. By participating cooperatively with conventional lenders, small business development can be adequately capitalized. The financing program has two components: subordinated loans and guarantees. Most types of small and medium sized businesses located in the City of Flint are eligible. However, EDC financing cannot be used to pay for work already completed, to pay off existing debt, or for real estate or housing projects.

Tax Abatement

Industrial businesses are eligible to apply for tax abatements on new investment in real and personal property. A tax abatement would reduce, by 50%, the property taxes due on this new investment. It should be noted that a tax abatement cannot reduce the existing tax liability on a property, but only limit the amount of an increase due to new investment in the property.

Obsolete Property Rehabilitation Act
PA 146 of 2000, as amended
Application and Instructions

Industrial Facilities Tax Exemption
PA 198 of 1974, as amended
Application and Instructions

Personal Property Tax Exemption
PA 328 of 1998, as amended
Application and Instructions

Commercial Rehabilitation Act
PA 210 of 2005, as amended
Application and Instructions

Industrial Revenue Bonds

Manufacturing businesses that are considering a significant investment in land, building and equipment can issue tax exempt revenue bonds through the EDC as a means to finance this type of investment. Bond issues are typically at least $1 million and cannot exceed $10 million.