Numerous business tax and
incentive programs are available to make locating in Romulus even
Wayne County offers micro loans
to small businesses. City CDBG funds can be used to leverage and
support other loans.
Industrial Development Bonds
Tax exempt industrial bonds are
available to finance the purchase and construction of
manufacturing equipment and buildings. Typical projects equal $1
million dollars and greater.
Brownfield Redevelopment Act
Under Michigan P.A. 381 of 1996,
tax increment funds can be made available to clean-up and reuse
eligible contaminated sites. Eligible projects may be further
enhanced with up to $1 million in Single Business Tax credits.
Local Economic Development
Tax Increment Finance Authority.
Downtown Development Authority.
Economic Development Corporation.
- Romulus has no local sales or income taxes.
- Michigan's Single Business Tax is only 2.3%, a predictable
- Many small businesses are exempt from the Single Business
- Nearly 100,000 jobs were created by Michigan employers in
1996 thanks to 21 tax cuts that saved $2 billion.
- Property taxes in Michigan are 9% below the U.S. average.
- Annual property tax assessment increases are capped at 5% or
the rate of inflation, whichever is less.
- In the past five years, Michigan has created more new jobs
than any other Great Lake State.
Michigan uses a state and local levying system for property
taxes. The taxable value of property is 50% of the current
Both real and personal property are subject to taxation.
Sources: Wayne County Department of Planning and
Development and the Michigan Department of Managment and Budget,
Customized Job Training
The State of Michigan provides job training grants to both
existing and new business owners. Employer needs are identified
and both grants and loans are structured to provide for customized
Nearby highly-regarded institutions of higher education offer a
range of education and training programs which can be customized
to meet specific business needs. These include:
University of Michigan - Dearborn and Ann Arbor
Wayne State University
Eastern Michigan University
Detroit College of Business
From 1984 to 1993, Michigan's workers'
compensation insurance rate increases were among the lowest in the
nation. Further, Michigan's open competitive system allows
employers to shop for the least expensive insurance carrier.