The City established a Municipal Economic Development Grant (MEDG) program to encourage companies to invest in existing buildings where other incentive programs do not apply. The program allows some companies to collect a grant based on the income tax collected from new employment within the City of Green.
For example, if a company with $2,000,000 in payroll in the City, those employees pay 2% in income tax to the City of Green. The City would calculate a grant based on a portion of that 2% in income taxes collected and rebate it to the company in the form of a grant. Grant terms are negotiated on a case by case basis.
