Lost Brownfield Tax Credits – Effect on Site Re-Development ?
Will brownfield re-development die if tax incentives are lost?
We are intrigued by Governor Snyder’s recent budget proposals. He is proposing to eliminate tax credits and incentives and replace them with a 6% corporate tax rate.
Brownfield site re-development means less greenfield development (urban sprawl). Brownfields are typically in urban areas that already have railroad, roadways, and utilities. And in general, brownfields are found in more densely populated urban areas – where the workers are. So the re-development of brownfield sites serves as an important public benefit.
See this article from mlive.com on the possible impacts of lost brownfield tax incentives.
Lev Wood is the editor of this blog and can be reached at Midwestern Consulting (Ann Arbor, MI) – 734.995.0200.
