Nate introduced today's speaker, Jessica Sattler who is the Director of Economic Development for the City of Tecumseh. Smart zones were created by the Michigan Economic Development Corporation to help grow businesses within a geographic region. There are currently 20 Smart Zones in Michigan and one of which is the Adrian/Tecumseh Smart Zone. Same purpose but different functions from each other.
The Adrian-Tecumseh SmartZone is a Local Development Finance Authority (LDFA). In 2014, a survey was done of properties in our area primarily our individual industrial parks. The baseline value was determined and anytime they increase through purchase or expansion, the municipality captures that revenue which is 5-% pf the taxes levied, she said, which can then be used in the Smart Zone, help Lenawee Now, Launch Lenawee, the Chamber, etc..
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The funding helps provide what Jessica referred to as Business Acceleration Services (a satellite of Ann Arbor Spark) which help businesses grow. The money is used for such things as helping businesses develop marketing, financing, make infrastructure improvements, with workforce development, etc.
Jessica concluded her presentation by showing several videos produced exclusively to promote the Adrian-Tecumseh Smart Zone.