The Corporation is a public economic development Corporation incorporated pursuant to Act 338, Public Acts of Michigan, 1974 as amended. Any net earning of the Corporation beyond that necessary for the retirement of indebtedness or to implement the public purposes or program of the County of Luce may not inure to the benefit of a person other than the County of Luce and, upon dissolution of the Corporation, title to all properties owned by the Corporation, subject to existing rights in other parties, shall vest in the County of Luce.
The Luce County Economic Development Corporation was formed in 1978.
In 2002 a Brownfield Redevelopment Authority (BRA) was established for Luce County, per the Brownfield Redevelopment Financing Act (PA 381 of 1996). BRAs are typically comprised of community leaders who have an interest in, or experience with, some aspect of the redevelopment process. Historically, the Luce County BRA included a representative from each township, village, county board of commissioners, chamber of commerce and the Luce County EDC. According to the bylaws established, the purpose of this group is to identify brownfield redevelopment ready projects and help facilitate that project to completion. In Michigan, brownfields are defined as properties that are contaminated, blighted, functionally obsolete, and can include historic properties. Regardless of their classification, all brownfield properties face economic impediments to reuse and redevelopment. Luce County contains multiple brownfield sites with redevelopment potential.