Development News

Aerotropolis bills look to spur development around Metro Airport

Thursday, October 02, 2008

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Aerotropolis, Redevelopment, Wayne County

Ypsilanti

Metro Airport has it a bit backwards. Usually good policies lead to infrastructure investment, which attracts business. Metro Airport already had the businesses there when it built the new terminals, and now it's going for the right state policies to lure even more companies.

A series of bills aimed at providing huge economic incentives for building out the Aerotropolis have been introduced into the state House of Representatives. The bills are the product of a joint venture from Detroit Renaissance, Wayne County and Washtenaw County.

The bills would deploy economic development incentives, such as Renaissance Zone tax abatements, MEGA tax credits, tax increment districts and other property tax abatement tools. The idea is these incentives will help spur $10 billion in additional economic activity while creating up to 60,000 new jobs within the next 10-15 years.

The incentives would be managed by the Aerotropolis Development Corporation, which is controlled by local government institutions. These include, the Wayne County Airport Authority, the counties of Wayne and Washtenaw, the cities of Belleville, Romulus, Taylor and Ypsilanti and the townships of Huron, Van Buren and Ypsilanti.

Source: Detroit Renaissance
Writer: Jon Zemke