Planning & Development
Department400 Boardman Ave
Traverse City, MI 49684
Phone: (231) 922-4676
Grand Traverse Next Michigan Development Corporation (GTNMDC)
Grand Traverse Next Michigan Development Corporation utilizes economic development tools and incentives to assist business doing multi-modal commerce.
Grand Traverse Next Michigan Development Corporation:
Grand Traverse County
City of Traverse City
Garfield Charter Township
East Bay Charter Township
The Next Michigan Development Act was established by PA 275 of 2010 to allow for the creation of a Next Michigan Development Corporation, by interlocal agreement, that fosters economic opportunities in this State, prevents conditions of unemployment and underemployment, and promotes economic growth focused on multi-modal transportation.
Grand Traverse County, City of Traverse City, Garfield Charter Township, East Bay Charter Township and Blair Township received designation as the Grand Traverse Next Michigan Development Corporation (GTNMDC) by the Michigan Strategic Fund Board in February, 2012. Only five regions in Michigan will receive such designation. A representative of each community comprises the GTNMDC Board.
GTNMDC is a set of economic development tools and incentives that focus on bringing businesses or expanding current businesses that utilize multimodal commerce, meaning a business must use two or more modes of transportation to ship its products. In the case of Grand Traverse County, the current focus is on air and road transportation but may include rail and water in the future. The goal of the Next Michigan designation is to best utilize current incentive tools and transportation infrastructure, particularly Cherry Capital Airport, to create job opportunities for the people of the Grand Traverse region.
Key partners in the GTNMDC include Cherry Capital Airport, Northwestern Michigan College, Traverse City Area Chamber of Commerce, Traverse Bay Economic Development Corporation, Grand Traverse County Road Commission, TC-TALUS and the Michigan Economic Development Corporation.
Specifically, the GTNMDC offers the following tools:
- Establish a multi-jurisdictional local development financing authority (LDFA) with the ability to utilize state tax capture, with the approval of the State Treasurer, for public infrastructure improvements
- Designate renaissance tax-free zones as allowed by the State of Michigan
- Grant real and personal property tax abatements