Private Activity Bonds

Tax-exempt Private Activity Bonds are available through the Michigan Strategic Fund to acquire land, buildings and equipment related to the manufacturing process. Up to $20 million in bonds can be secured, with interest rates typically 75-85% of prime. Eligible industries include manufacturing, non-profit projects and waste facilities.

St. Clair County Project Utilizing Private Activity Bond Incentive:

Manter Technologies Corporation

Manter Technologies is an automotive supplier principally producing small- and medium-sized metal stampings. Due to the growth of this family owned business, they invested approximately $3.6 Million in building expansion costs and new equipment.

The EDA coordinated an incentive package including property tax abatements and State investment tax credits. The EDA assisted the company and Cottrellville Township with the first industrial tax abatement issued by that community.

Private Activity Bonds (formerly Industrial Development Revenue Bonds) guaranteed by the U.S. Rural Development Administration and provided through a local bank was used for financing this project.