Michigan shifts to first Renewable Energy Renaissance Zone
The new plant, which will use soybeans to make the biofuels and will likely be developed by Michigan Biofuels LLC of Belleville, is part of an expansion of Michigan's Renaissance Zones, selected locations around the state where tax waivers and/or credits are given to encourage development. These areas have traditionally been in blighted or otherwise unapppealing to business interest areas. The Renewable Energy Renaissance Zone Act was amended in July to create ten more tax-free zones where renewable energy companies can operate. The City of Adrian applied for the first of these zones and the fate of the application is now with the State Administrative Board.
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