Renewable energy Ren Zone being considered; could result in 37 new jobs

by Peter Jakey– Managing Editor

The PI Economic Development Corporation (CDC) and the Michigan Economic Development Corporation (MEDC) are considering the designation of a renewable energy Renaissance Zone in Rogers City for a new business that would provide 37 full-time jobs. Bill Valentine, executive director of the CDC/EDC, went before members of the Presque Isle County Board of Commissioners May 9, seeking their support of a proposal that could potentially bring the new business to Rogers City. He said it is ?very preliminary.?

Part of the 10 acres of property the unnamed business wants to acquire is already in a tax-free Renaissance Zone area. More land is needed, though. The rest of the land belongs to another party. The company, interested in building a $10 million facility, is negotiating with the current owners.

THE COUNTY BOARD approved the ?statement of interest? on a unanimous roll call vote. The City of Rogers City had already passed a similar resolution indicating their interest in participating in the tax abatement program. All units of government are required to give their agreement before the renewable energy Renaissance Zone can be granted. Valentine said the proposal to add Renaissance Zone property is ?project specific,? and is available only to companies interested in developing a renewable energy-related business. ?There are only 10 of them that the state is going to issue and that is part of the urgency to get moving on this, because it will probably tilt the scale in favor of our location, because we are competing with three other cities,? said Valentine. ?If the project were to fall through, there would be no Renaissance Zone.? The company would have to send an application to the MEDC.

?WE WOULD be one of the co-signers, if you will. The tax advantage goes to the company from MEDC and the local units of government,? said Valentine. ?It

?s all new jobs. It?s a brand new company to the area. It?s not an existing company, it?s not an expansion of an existing company, it?s new business coming to our community.? Rogers City and Onaway have business and residential Renaissance Zone lots available. They are designed to spur economic growth. The Renaissance Zone lots had started as tax-free area for 15 years, but after a request was granted to reset the clock, it has been ticking and is now at 12 years. Valentine had visited with the finance committee prior to appearance before the county board. He said the investment would be for buildings and equipment.