Seven companies from Kent, Ottawa, and Berrien counties are among the sixty-two Michigan tool and die companies approved to join the Tool and Die Recovery Zones, according to a recent announcement by the Michigan Economic Development Corporation.
The tax-free designations are designed to lower operating costs, help companies compete globally, and keep high-skilled jobs in Michigan.
Grand Haven-based AIM Tool & Die, Northwest Tool & Die Co in Kent County, and Morren Mold & Machine in Allendale are among the local companies expecting to benefit from the program.
Tool and Die Recovery Zones allow companies to operate free of most state and local taxes for as many as 15 years. The Michigan Economic Development Corporation administers the program.
Source: MEDC
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.