SmartZones are certified technology parks or zones where technology-based firms, entrepreneurs and researchers locate in close proximity to all of the community assets that assist in their endeavors. SmartZones are able to capture the growth in property taxes through tax increment financing within the park, with the revenue to be used in the park for a variety of purposes, including infrastructure, marketing and promotion, and creating high-technology support facilities, such as laboratories and training centers.
Pursuant to the amended act, no additional SmartZone designations are permitted. If applicable, a SmartZone can request an extension of time for their SmartZone designation and/or their tax increment finance plan.
Program in Brief
Contacts For questions on SmartZone high technology and entrepreneurial activities, contact Fredrick Molnar at 734-478-8254.
For technical questions regarding tax increment financing plans, contact James Tischler at 517-420-8531.