The Capital Region International Airport’s Port Lansing Global Logistics Centre has been granted Next Michigan status by the Michigan Economic Development Corporation (MEDC) Strategic Fund, meaning the Lansing airport is currently the only airport region outside of Detroit to receive the special tax development incentive status.
The Next Michigan designation provides access to significant state tax incentive opportunities to assist the Capital Region Airport Authority in recruiting businesses that create new jobs in the Mid-Michigan area.
“This Next Michigan designation is an important new development tool for our region,” said Robert Selig, Executive Director of the Capital Region Airport Authority. “The Capital Region Airport Authority has invested over $25 million in airport facilities and services in recent years, all focused investments that prepare our airport to make Mid- Michigan more competitive in global trade development. The new tax incentives were granted by the state because of the cooperative effort made by regional leaders.”
In the application for Next Michigan status, the region estimated that a fully developed Port Lansing Michigan Development District could create 2,530,836 square feet of new building space, expand the taxable value of property (currently not on tax rolls) in the City of Lansing and DeWitt Township by $190 million, and generate $9.5 million in additional tax dollars to the cooperating communities. The total economic impact to the region could increase by $126 million over the next 15-20 years, and stimulate the creation of 1,575 new jobs in the area.