Economic development incentives play an increasingly significant role in corporate site selection, and can help governmental units attract more businesses.
The team at Dickinson Wright works with all parties involved in economic development, including: real estate developers, manufacturing businesses, energy companies, institutional lenders and government agencies and quasi-governmental organizations. We take a cross-disciplinary approach involving real estate, tax, public finance, banking and environmental law to successfully implement economic development plans that maximize available incentives.
Some of the areas of expertise within the real estate economic development practice include:
- Helping private developers identify and obtain incentives, including working closely with administrative agencies throughout the approval process.
- Assisting government entities with the development and administration of economic development strategies.
- Representing institutional lenders, syndicates and borrowers/developers in tax credit and other economic incentive financings under national, federal, state and local programs, including New Market Tax Credits, SmartZones, Renaissance Zones, Michigan Historic Rehabilitation Tax Credits, brownfield credits, redevelopment and rehabilitation credits.
- Serving as bond counsel to state and local units of government, lenders, underwriters and developers/borrowers in connection with economic development projects.