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Michigan has launched a groundbreaking tax incentive program designed to boost innovation and drive business growth. The new 2025 Michigan R&D Tax Credit and Michigan Innovation Fund aim to lower costs for businesses, create jobs, and position the state as a leader in technology and manufacturing.
What’s in Michigan’s 2025 Innovation Tax Program?
Michigan is making a historic investment in research and entrepreneurship by introducing two major initiatives:
1. Michigan 2025 R&D Tax Credit
Key Benefits:
- Large businesses (250+ employees) can claim up to $2 million annually.
- Small businesses (under 250 employees) receive a $250,000 tax credit.
- Additional $200,000 credit for businesses partnering with Michigan research universities.
Why It Matters: Michigan now joins 36 other states in offering R&D tax incentives, making it a more attractive hub for high-tech businesses and manufacturers.
Rep. Julie Rogers (D-Kalamazoo) stated: “This tax credit strengthens Michigan’s position as a leader in research and development, creating jobs and supporting local businesses.”
2. Michigan Innovation Fund ($60 Million Investment)
Who Benefits?
- Early-stage startups seeking venture capital.
- Businesses relocating to Michigan.
- Entrepreneurs launching innovative projects.
Rep. Alabas Farhat (D-Dearborn) emphasized: “This fund fuels Michigan’s economic future by investing in startups and job creation.”
How & When to Apply for the Tax Credit & Innovation Fund
🔹 Application Start Date: March 1, 2025
🔹 Deadline to Apply: September 30, 2025
🔹 Where to Apply: Official Michigan Tax Incentive Portal
Avoid Missing Out: Key Deadlines & Penalties
- Late applications will not be accepted after the deadline.
- Incomplete submissions may result in disqualification.
- Missing required documentation could delay approval.
Pro Tip: Apply early to secure your funding and maximize benefits!
What Business Leaders Are Saying
Mike Johnston, Michigan Manufacturers Association:
“This R&D tax credit gives Michigan a competitive edge, driving innovation and economic growth.”
Santa J. Ono, University of Michigan President:
“This funding strengthens partnerships between research institutions and businesses.”
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