Townships are authorized by law to promote economic development.

For example, MCL 41.110c authorizes a township board to appropriate money to advertise the agricultural, industrial, commercial, educational or recreational advantages of the state, county or township.

Regional Placemaking for Prosperity in the New Economy

May 2008 Michigan Township News

The Economic Development Corporations Act, Public Act 338 of 1974, MCL 125.1601, et seq., provides for creating a township Economic Development Corporation to fund projects for public benefit that are approved by the township board.

Going to Market: Making Business Township Business (.pdf)
Michigan Township News, May 1996

The Downtown Development Authority Act, Public Act 197 of 1975, MCL 125.1651, et seq., authorizes townships to create a Downtown Development Authority in one or more development areas in a downtown district zoned and used principally for business. When a township board determines that it is in the public's best interest to halt property value deterioration and increase property tax valuation in its business district, the board may create and provide for a DDA by ordinance. A DDA may capture tax increment revenues from all property in the development area to finance public facilities within the area as described in a development plan and tax increment financing plan approved by the township board.

The Downtown Development Authority--A Useful Tool for Township Economic Development (.pdf)
Michigan Township News, June 2004
Tax Increment Financing: An economic development tool for
townships (.pdf)
Michigan Township News, July 1998
Understanding the Tax Abatement Process (.pdf)
Michigan Township News, December 2002