A win-win for commercial, industrial, and multi-family property owners,
Ingham County announces an innovative new partnership and program with
Lean & Green Michigan. This partnership provides the County the opportunity to provide businesses located in the County a tool for financing energy efficiency and renewable energy improvements for their buildings; the
Property Assessed Clean Energy, or PACE program.
Ingham County Economic Development Coordinator, Sandy Gower, explains: “For many businesses energy costs are a significant operating expense. Energy efficiency and renewable energy improvements to a building can have a significant impact on lower those operating costs. However, the upfront capital needed to install the improvements can be difficult to finance. The PACE program, through the use of voluntary special assessment, can assist the business owner to obtain the necessary financing.”
Lowering operating costs for a business means better profitability for the company. That profitability may allow the business to expand, which could lead to additional jobs in the community. PACE also provides opportunities for the ancillary jobs in the companies that will build and install the new energy projects.
Gower says the County looks forward to this advantage in retaining and recruiting businesses, and mentions, “Because we are the only County currently offering this program, it give us a unique tool to offer businesses as they look to locate in Ingham County. It also is a great tool to assist with the redevelopment of existing vacant buildings by providing a means to make those facilities more energy efficient.”
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