MUSKEGON — Federal guidance on a new incentive program designed to encourage investment in economically-distressed communities comes at an opportune time for Muskegon. Amid an ongoing wave of redevelopment in the city, property investors looking to shield some gains from taxes now have new ways to redeploy their capital and seek returns via Opportunity Zones.
MUSKEGON — The city of Muskegon has bolstered its economic development office amid a wave of major redevelopment projects, and while a local support organization continues to define its future and transition to private-sector support. The city reorganized and expanded the office from a half-time economic development position shared through a contract with Muskegon County, to two new full-time, in-house staffers.
MUSKEGON — A lakeshore fabrication shop hopes to capitalize on explosive growth in the U.S. craft distilling industry by offering custom Michigan-made stills and other equipment. NexGen Mechanical Solutions LLC founder Scott Whitaker, a pipefitter by trade, over the last 13 years developed a niche in serving the region’s distilleries, including New Holland Artisan Spirits in Holland and Muskegon-based 18th Amendment Spirits Co.
MUSKEGON — A West Michigan solar energy developer is pursuing new projects and job-training in low-income communities across the state that qualify for tax relief under recent federal tax reforms. The Tax Cuts and Jobs Act of 2017 created qualified Opportunity Zones that allow investors to defer taxes on capital gains meant to spur development in low-income areas. While most projects involve real estate development, some developers across the U.S. are beginning to explore the potential for renewable energy in Opportunity Zones.
MUSKEGON — A bill to transfer a lakeshore prison property to the state’s land bank is heading to the governor.
Marketing agency Revel plans to relocate its downtown Muskegon office to a new mixed-use project within the city’s central business district.
A West Michigan kayak manufacturer plans to open a new manufacturing and distribution facility southeast of Atlanta.