Ford's Detroit Campus Receives $239 Million in Tax Breaks
Detroit approved $104 million in tax breaks to subsidize Ford's adaptation of the old Michigan Central Station into a campus for autonomous and electric vehicle technology.
The $740 million, 5,000-worker campus is expected to generate a net benefit of $371 million for the city over 35 years, during which Ford will see a total of $239 million in tax breaks. Part of the deal is a community benefits agreement in which the company will invest $10 million in the Corktown neighborhood surrounding the abandoned station: $5 million for workforce training, $2.5 million for a city development fund, and $2.5 million for affordable housing.
The agreement relies on several programs aimed at incentivizing redevelopment: the Obsolete Property Rehabilitation Act, Commercial Rehabilitation Districts, and Renaissance Zones.