The costs are high in the U.S. to open new facilities or expand existing business operations. Hancock Askew’s State and Local Tax Team works with employers to identify money-saving credits and business incentives that will lower these costs and generate capital to help finance growth. We guide clients through every step of the business incentives process. Our professionals conduct site location financial analysis and identify the most cost-saving business incentives offered by state and local jurisdictions and other stakeholders in a company’s target location(s).
Site Selection
In conjunction with real estate professionals, we assist our clients in evaluating communities under consideration for opening new facilities or expanding existing operations. We provide comparative site location financial analysis (i.e., Gap Analysis) that evaluates all expansion costs. Our goal is to make our clients aware of financial obligations required by all jurisdictions under review for expansion.
Economic Development, Government and Other Stakeholder Liaison
We serve as the liaison with community, economic development, governmental and other stakeholder representatives in all states. Our professionals research the costs associated with locating in target locations, then we work with state and local entities to negotiate agreements and secure business incentives. Our analysis focuses on the issues most important to each client, including labor/workforce, local schools, state/local permitting processes, tax and non-tax costs, as well as money-saving opportunities.
Business Incentives
Our business incentive services provide clients with a comprehensive approach to seeking public sector support for the full range of labor-related or capital investment initiatives and projects.
Tax Credits
Our Tax Credit services involve a thorough analysis of the client’s capital investment, job creation, and training expenses in each state to identify prospective tax credits and refund opportunities. These credits are typically against corporate income tax and state withholding tax but can be tax credits against other state and local taxes.
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