Optimizing Business Incentives: Preparation and Creativity are the Keys

Competition among state and local governments has resulted in a daunting array of incentives, including cash grants, tax credits and abatements, infrastructure assistance, land grants, utility rate reductions, and streamlined permitting. Each program has its own rules and is tied to specific government priorities. The companies that are most successful in obtaining incentives combine thorough research with creative thinking about how their plans align with the relevant governmental priorities. This strategic approach allows these companies to negotiate enhanced incentives for their projects. These companies then follow through with the proper compliance procedures to ensure full realization of the benefits of these incentives. Three questions can help focus your thinking about how a strategic approach to business incentives can support your company's investment in new or expanded facilities.