Superior Trade Zone should spark new development
It might have been little more than a formality at this point but a state board has given its approval for local governments in Marquette and Delta counties to join forces to provide business incentives in a coordinated way through the Superior Trade Zone.
The Michigan Strategic Fund board recently approved the creation of the trade zone, making it the state’s sixth Next Michigan Development Corporation, which are regionally based entities designed to increase economic development.
The Superior Trade Zone will include 16 communities in the Upper Peninsula, including the cities of Marquette and Escanaba, as well as Delta and Marquette counties.
The first five development corporations were set up through legislation approved in 2010, which was amended in 2013 and paved the way for the Superior Trade Zone.
The idea is to bring together regional communities via an inter-local agreement to form the development corporations, which are able to grant incentives like property tax abatements and Tax Increment Financing districts
Because of the potential to attract businesses, this is going to be good for this community and this area.
And that, we believe, is a very good thing.