The Michigan Strategic Fund board approved two massive tax incentive packages Monday to spur on developments in Kalamazoo and Grand Rapids.
Combined, the two projects are expected to lead to nearly $900 million in investment in the two cities.
Much of the investment will be supported by brownfield tax credit recapture, which allows developers to avoid paying some of their taxes to invest the money in the project instead. Both of the projects received approval for incentives through the state’s transformational brownfield plans, which are meant to support large-scale, transformational projects…