Economic Incentives
Our team of specialists provides economic impact analysis services to assist you with negotiation of economic incentives; location selection studies; economic impact analyses; and administration and compliance of incentive awards.
Location Selection Studies
We provide a detailed analysis of desired location factors to evaluate suitable locations for your expansion, relocation or consolidation projects. Economic impact assessment location factors may include labor availability and cost; state and local income, property, and sales taxes; real estate and construction costs; utilities availability and cost; and other project-specific criteria.
Negotiation Of Economic Incentives
Our negotiation process includes structuring incentives proposals combining resources from state, local, and federal governments to highlight distinctive project features or target project barriers, and meet project ROI requirements. Evaluation and comparison of proposals are designed to maximize the net present value of incentives benefits and minimizing tax burden.
Tax Burden Analysis
Income tax credits and property tax abatements may have a great impact on decision-making when comparing competing locations with different tax structures. Our tax burden analysis will reveal your true tax liability after applying all incentives benefits against the forecasted future tax burden, to better evaluate locations and leverage incentives negotiation.
Economic Impact Analysis
Employee and business spending for local services have an exponential effect on state and local economies, and state and local officials often base incentive offers on the evaluation of a project’s long-term economic impact on the community. We use industry-specific impact multipliers to demonstrate the long-term impact on the community, including direct and indirect tax revenues that will affect the community’s return on investment in the project.
Economic Incentives Modeling
Determining the value of incentives packages is often difficult because they often include varying types of incentives with different terms and conditions. Additionally, changes to other project factors may complicate the evaluation. We use project information, incentive program guidelines, and our experience with past projects to forecast incentive values over the life of proposed agreements, with flexibility to adjust to various project scenarios and incentive negotiations.
Administration & Compliance
Many companies do not receive the full value of an incentive award approved for their project. Failure to complete annual compliance requirements is often the reason companies do not collect incentive benefits awarded. We help to ensure that you meet all compliance reporting requirements, and if needed, will assist to help negotiate to minimize clawback and other penalty provisions for non-performance.
Negotiated Incentives
An exciting part of First Advantage’s Tax Services includes negotiating economic incentives on behalf of our clients. These “Negotiated Incentives” can minimize tax liability and offset the high capital costs associated with new, expanding, or relocated business sites. Our team of economic incentives specialists, with decades of experience, is dedicated to assisting clients with negotiation of economic incentives, economic impact analyses, review of potential offers, and administration and compliance of the incentive awards. Please click here for more information about this exciting service offering.
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