Anatomy of a deal: Renovating the Life Savers plant

Saturday, January 24, 2004

Under a 1996 Michigan law, local governments can establish brownfield authorities and offer tax breaks to companies that redevelop blighted, contaminated or functionally obsolete industrial or commercial properties.

In a recent example, the state and local governments are providing $1.1 in tax incentives to a developer who will convert a plant formerly owened by Kraft, Inc. The facility, a 450,000 factory, was the last U.S. plant to produce Life Savers.

The developer will divide the plant into sections from 50,000 to 150,000 square feet. To qualify for the creidt, the developer must increase the value of the property. Learn more.

posted by Ed Morrison |

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