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Community Development Programs
The Traverse Bay Economic Development Corporation actively participates in community development activities that create economically viable communities.
To learn more about the available community development opportunities available to your business, rely on the Traverse Bay Economic Development Corporation as your single point of contact.
Corridor Improvement Authority
The purpose of this program is to allow local units of government (cities, townships and villages) to establish Corridor Improvement Authorities to correct and prevent property value deterioration and increase property tax values in business districts; encourage historic preservation; promote economic growth of these districts; and to establish a Tax Increment Financing (TIF) plan to capture taxes for public infrastructure improvements.
This act allows a municipality to define a corridor, establish a base of taxable value, and in the future "capture" new taxable value tax dollars to be used specifically within the district instead of being spread and spent throughout the municipality as a whole.
All improvements as a result of the Corridor Improvement Act must be made within the confines of the defined area. These development areas must:
- Be adjacent to a road classified as an arterial or collector according to the federal higway administration
- Contain at least 10 contiguous parcels or at least 5 contiguous acres
- Have more that ½ of the existing ground floor square footage in the development area classified as commercial real property
- Historically allowed for residential use, commercial use or industrial use for the immediate preceding 30 years
- Be currently served by municipal water and sewer
- Be currently zoned to allow for mixed use, including high-density residential development
- Have an agreement from the local municipality to expedite local permitting and inspections in the area and to modify the master plan to provide for walkable, non-motorized interconnections, including sidewalks and streetscapes throughout the area.
Downtown Development
Cities, Townships and Villages have the opportunity to access grant and loan programs at the state and federal level to improve their downtowns. Eligible activities include streetscape improvements, downtown beautification projects, planning grants, building renovations, mixed-use development projects and public infrastructure improvements. For more information on downtown development project assistance please click on the following links:
Or contact the Traverse Bay EDC for further information on eligibility requirements to qualify for one of these many programs.
Infrastructure Assistance
Grant and loan programs are available to companies and communities who are seeking public infrastructure upgrades in the form of roads, water and sewer. The Community Development Block Grant (CDBG) program is a federally-funded program administered in part by the Michigan Economic Development Corporation. For-profit businesses engaged in an economic base activity (e.g, manufacturing, point-of-destination tourism, headquarters operations, major multi-state distribution facilities) can work with eligible communities to request grants to provide public infrastructure improvements. Public infrastructure includes items such as public water or sanitary sewer lines and related facilities, streets, bridges, and public utilities. Click here for more information.
- Michigan's Core Communities are eligible for brownfield redevelopment and 100% personal property tax relief. Read about it...
- Urban Land Assembly funds are available for loans to communities to acquire, assemble and prepare sites for development. Read about it...
- Through the Michigan Department of Transportation (MDOT), Transportation Economic Development Funds can support local road development to foster job creation and job retention opportunities. Read about it...
- The Municipal Bond Authority, administered by the Michigan Department of Treasury, offers local units of government an alternative method of raising funds for a variety of public purposes, including infrastructure.
- Grants and loans are available through the Economic Development Administration for public works projects to attract new industry, encourage business expansion and generate long-term, private sector job creation. Read about it...
- Grants and loans from the US Department of Agriculture’s Rural Development program can be used by communities and companies to help finance public infrastructure in two categories: water and waste disposal facilities and community facilities. Read about it...
- Funds may also be captured at the local level through a Tax Increment Financing (TIF) Districts for the purposes of financing public infrastructure improvements.
Tax Environment
Michigan and the Traverse Bay Economic Development Corporation tout an extremely competitive tax structure that creates a business-friendly environment. In addition, there are available tax abatement opportunities for qualifying investments.
To learn more about the region's tax environment and the abatements available to your business, rely on the Traverse Bay Economic Development Corporation as your single point of contact.
Affordable Housing
The four counties of the Traverse Bay region support housing choices in a variety of price ranges. Elegant Victorian homes in urban Traverse City, farmhouses in the sprawling countryside of rural communities, condominiums, and duplexes are just a few of the options available in affordable housing for working families.
Arts & Culture
A well-rounded community attracts the most talented workers. The Traverse Bay region is a great place to live and raise a family, in part due to the increasingly cosmopolitan environment brought about by local performing artists. Northwest Michigan offers a wide array of artistic and cultural experiences. The world-renowned Interlochen Center for the Arts, the celebrated Traverse Symphony Orchestra, and several community theaters are just a few examples.
Education
Educational opportunities provide a solid foundation for Northwestern Michigan communities. The presence of our educational institutions emphasizes the importance of education for all of our residents: recent high school graduates, adults returning to school, and job seekers wishing to change careers. The variety of educational programs offered in this region ensures a diverse workforce, enabling us to meet the needs of growing and expanding businesses.
- NMC
- NMC University Center:
Central Michigan University, Davenport University, Eastern Michigan University, Ferris State University, Grand Valley State University, Lawrence Technological University, Michigan State University, Spring Arbor University, University of Michigan, Western Michigan University
- M-TEC
- Traverse Bay Area Intermediate School District
- KAL-TEC
Health Care
Accessible, high quality health care is of substantial importance to a community. The Traverse Bay region is the proud home of Munson Healthcare, headquartered in Traverse City with subsidiaries in Leelanau and Kalkaska Counties. Munson Healthcare is the area’s largest employer, offering high quality healthcare and specialized, advanced medial services, including oncology, cardiology, and orthopedics. Munson Medical Center repeatedly ranks among the Top 100 Hospitals by Solucient which maintains the nation's largest health care database, and was the sole recipient of the National Quality Health Care award for 2000 from the National Committee for Quality Health Care. Munson also uses emergency transportation that combines their "North Flight" helicopter and EMT vehicles used for the outlying rural areas.
Hospitality & Entertainment
The Traverse Bay region is a tourist destination, with the stunning landscapes of Lake Michigan, both arms of Grand Traverse Bay, and various inland lakes, as well as the many superior resorts, wineries, and restaurants. The area has long prided itself on its high quality service and hospitality options. The region’s economy is vastly boosted by tourism: according to the 2007 Economic Forecast from the Traverse City Area Chamber of Commerce (five counties), the Accommodations and Food Services Industry provided 9.4% of the area’s jobs, and is expected to increase employment by 11.1% from 2006 to 2010.
Entertainment options abound during every season: from outdoor activities such as down-hill skiing, fall color tours, beaches, and state parks, to indoor entertainment such as casinos, concerts, restaurants, and art galleries.
Real Estate and Construction
Residential and commercial real estate values in the Grand Traverse Area have continued to appreciate and hold their value in the past ten years. The Home Builders Association of the Grand Traverse Area boasts a membership of over 500 builders, sub-contractors, developers and bankers that emphasize a broad range of properties for different income areas. Numerous commercial development opportunities are available, along with individualized advocacy by Traverse Bay Economic Development Corporation.
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