The City of Grand Rapids is open for business! Whether you are
- an entrepreneur looking to start a business
- a small business looking to grow, or
- a company considering an expansion or relocation
we are here to help make Grand Rapids your first choice for all your business needs.
We offer many financing and incentive options to help you grow your business. Below is a list of programs that the City offers to qualifying businesses located in Grand Rapids.
You can apply for any of these programs through our Citizen Access Portal. You can view the schedule for fees for all of these programs here(PDF, 57KB).
Industrial and High Tech Tax Abatements- PA 198 of 1974
This program provides tax incentives for businesses to invest in buildings and equipment. The program is for industrial/manufacturing companies and high-technology companies.
Obsolete Property Tax Abatement- PA 146 of 200
This program provides tax incentives for investment in certain types of commercial and residential properties that qualify as obsolete.
Personal Property Tax Abatement
This program allows for a reduction of new personal property taxes for businesses that create at least 25 jobs.
Tax-Exempt Industrial Revenue Bonds (IDRBs) PA 62 of 1963
These loans can be made for manufacturing projects, not-for-profit corporation projects, and solid or hazardous waste disposal facilities. They may provide better terms than other debt options.
Taxable Revenue Bonds
These bonds provide companies with potentially longer-term financing (10-20 years) at a fixed rate. They may be at a lower cost than conventional financing. They can be used
- as working capital
- to finance projects of more than $10 million, or
- to finance commercial, pollution control, agricultural, or recreational projects.
Processes Flow Charts
The following flow charts can help give you an idea of the processes of some of our programs follow from start to finish.
We also support partner programs that provide resources to entrepreneurs. More information is available on our Economic Development Corporation page.