Welcome to Taylor’s Economic Development page, where you will find an array of reasons to start your business in our city along with fruitful resources at your fingertips. Taylor is a growing city that would like to invite you in on new economic opportunities.
For Businesses and Individuals Affected by COVID-19
Here in our Economic Development department, we understand the dramatic impact the COVID-19 pandemic has created for businesses throughout the Michigan and U.S. Economy so that is why we have been keeping up with the latest incentives and resources that may help you. Below is an array of new tools set up for businesses strugling in these unprecedented times. Please contact us with any questions as we are in this together.
Stay healthy. Stay safe. Stay informed.
- Economic Injury Disaster Loan (EIDL) Grant
- Paycheck Protection Program (PPP)
- SBA Loan Subsidy
- Tax Credits for Small Businesses
- Employee Retention Credit
- MI Local Biz | COVID-19 Small Business Support Program
- Coronavirus Learning and Policy for Businesses and Individuals
- MIWISH Grant Workplace Improvement for Health and Safety
- Unemployment Insurance Relief
- Resilience Microloan and Grant Fund
- Weatherization Grant for Small Businesses
- Pure Michigan Small Business Relief Initiative
- $10,000 loan advance
- Working capital loans up to $2 million.
- Learn More and Apply
- 7(a), 504, or microloans qualify.
- Call your local lender to learn more.
- The employer side of certain payroll taxes are deferred through the end of 2020. Deferred taxes will not become due until end of 2021 and end of 2022, with 50% of the liability being paid at each date.
- Any business that does not have a loan forgiven under the new SBA Paycheck Protection Program is eligible for the payroll tax deferral.
- Learn More.
and illness to workers in Michigan."
- Have 250 employees or less, company-wide.
- Come under the jurisdiction of MIOSHA.
- Conduct a site-specific evaluation justifying the equipment
- Relate project directly to improvements that will lead to a
- reduction in the risk of injury or disease to employees.
- Have the knowledge and experience to complete the project
- and be committed to its implementation
The Michigan Entrepreneur Resilience Fund will provide two primary avenues of funding:
Grants: $1,000 – $5,000 grants to assist with reopening or pivoting your business.
Microloans: $5,000 – $10,000 loans with a 1-3 year repayment period. Loans are fixed rate (8%), fully amortizing, term loans.
At Least $3,000,000 in Funds Now Available
The Michigan Department of Labor and Economic Opportunity (LEO) is providing federal CARES Act funds to help qualifying small businesses expand their capacity by adding weatherized, temporary outdoor facilities.
Who is eligible? Commercial firms and nonprofits with 50 or fewer full-time equivalent employees in these industries:
- Restaurants and/or bars
- Banquet centers
- Retail stores
- Gyms and fitness centers
- Local governments, including cities, townships, villages and counties that provide common space for businesses
- Commercial property owners who provide common space for tenants
Applications Open December 15
Grant Information for Small Businesses
The grant application for small businesses to apply will open on December 15, 2020 at 9:00 A.M. ET. Grants will be awarded in the amount of up to $15,000 per eligible business on a "first-in" basis. Grant funds will assist eligible small businesses directly impacted by COVID-19 meet urgent working capital needs including payroll expenses, rent or mortgage payments and utility expenses in the following industries:
- Restaurants, bars and other food and beverage service providers
- Travel and tourism destinations including lodging providers and hospitality businesses
- Live event venues and movie theaters
- Conference and meeting facilities
- Ice skating rinks, indoor water parks and bowling centers
- Gyms, fitness centers and indoor recreation facilities