[IMGCAP(1)]How often do you read headlines in the local business journal about companies receiving state and local incentives to expand or relocate? Are your clients in the headlines for incentive deals? If not, you may be able to help them get there—and create a lot of value and goodwill in the process.
Growing companies create jobs, bring income into the area, train skilled workforces and produce tax revenues for state and local governments. When companies look to expand operations, make capital investment or add new jobs, state and local economic development teams have a variety of discretionary incentives at their disposal to help them attract and retain business. These include time sensitive discretionary incentives, including tax abatements, payroll tax credits, infrastructure grants, lower- or no-interest loans, training grants and tax increment financing. Every state and location is different in what they can provide and how aggressively they use incentives to attract and retain business.
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