The development entity, Metro 94 Commerce Center, LLC, is an affiliate of Ashley Capital and was created in 2022 for the development of the site in the city of Taylor. Supporting this type of property remains vital to retaining existing companies in the state as they grow and offers opportunities to attract new companies here to Michigan. In addition, market analysis has repeatedly shown that large, move-in ready sites are in demand. The project is expected to result in an increase of approximately $10.5 million in the taxable value of the property. In addition to addressing the blight and contamination, the reactivation of approximately 531,500 square feet of industrial space is critical in addressing the shortage of space in the city of Taylor, metro Detroit, and the state. The project is also requesting $10,690,749 in tax increment financing from the Michigan Department of Environment, Great Lakes and Energy to assist with environmental eligible activities. The city is supporting the project through the local portion of the Brownfield Work Plan valued at $3,506,845. The City of Taylor Brownfield Redevelopment Authority today received MSF approval of state tax capture valued at $1,928,439 to be used to reimburse for brownfield-related activities at the site. This project returns the site to productive use and helps to build Michigan’s site portfolio. The site, located east of Inkster Road, north of I-94, and south of Beverly Road, has been underutilized for decades and will advance the revitalization efforts being made in this industrial area of Taylor. The project is expected to result in a total capital investment of $40 million, and when fully occupied, could result in the creation of up to 185 full-time jobs. multi-tenant industrial building for light manufacturing, warehousing, and distribution use. The Metro 94 Commerce Center Redevelopment Project will redevelop approximately 70 acres of former landfill property in the city of Taylor, including the construction of an approximately 531,500 sq. New spec industrial building will create in-demand, move-in ready facility, help attract new businesses to Metro Detroit (Note: For local quotes on each project, see the quotes at the end of the release) Today’s MSF actions demonstrate our ongoing commitment to ensuring our work is making an impact no matter where our friends and neighbors reside across both peninsulas.” “We are grateful to Governor Whitmer, legislators, and local officials for their continued support for our programs, and we appreciate the hard work of the Michigan Strategic Fund board. “The projects approved today will bring good jobs to Michigan residents, support vibrant communities, help increase growth opportunities for small businesses, and boost our talent pipeline in strategic industries,” said Michigan Economic Development Corporation CEO and Michigan Strategic Fund President and Chair Quentin Messer Jr. Together, we are putting Michiganders first by fostering strong, long-term economic opportunity in every region of our state.” “From redeveloping a manufacturing building in Taylor, bringing a grocery store to downtown Hanock, and building a mixed-use YMCA in Flint, these projects will continue growing our economy. “Today’s projects will create and retain over 400 jobs and drive more than $200 million of investment into communities across Michigan,” said Governor Whitmer. These projects include redevelopment or renovation of underutilized properties to build affordable housing, create commercial space, and remove blight in Taylor, Marquette, Hancock, Flint, Muskegon, Alma, Petoskey, and Wyandotte. – Today, Governor Gretchen Whitmer joined the Michigan Economic Development Corporation to announce Michigan Strategic Fund approval of a wide range of projects that could lead to the creation or retention of 421 jobs and generate nearly $203 million in investment in Michigan. Projects will build affordable housing, remove blight, create commercial space
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