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
- Verizon Small Business Relief
- Retooling Grant
- Resilience Microloan and Grant Fund
- $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
- Grants up to $10,000
- Pay for rent, utilities, payroll, outstanding vendor debt, and/or other immediate operational costs.
- Learn More and Apply.
- View Also Verizon's Response to the COVID-19 Pandemic.
Use of Funds
- Acquiring necessary equipment to manufacture critical health supplies.
- Logistics/shipping costs of securing equipment.
- Technological upgrades.
- Other costs related to creating new production lines.
$10,000 - $150,000 per entity. Total allocation by MEDC for the program is $1M.
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.