Business & Economic Development Incentives

In today's landscape, competition for incentives, from all levels of government, is an opportunity that a new or growing business can leverage to increase returns on its investment in new jobs and facilities. The Firm’s team of economic development professionals provides national economic development and site selection services, leading in tax planning and negotiated incentives to achieve a win-win for both our client’s business and their community.  With over 20 years of business and economic development incentive experience as a firm, we have partnered with business to enhance communities where we live, work and play.

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Our experienced professionals work with clients to strategically plan their investments, to leverage the maximum benefits available through Public-Private Partnerships, Bond Financing, Sales Tax exemptions, Property Tax abatements, Income Tax credits, training grants, federal benefits, and a myriad of other opportunities.  These professionals have experience across the country in states and cities, building a portfolio of over $650,000,000 in negotiated tax incentives.

When we negotiate, we include both tax and non-tax related financial offsets, working to secure financial benefits to enhance the value of the project. 

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Our team has experience in all industries, including retail and consumer products, manufacturing, logistics and transportation, technology and data analytics, financial services and agriculture.

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• Site Selection Location Based Incentives:  We help our clients identify sites for potential projects, evaluate the costs and benefits of various locations, and negotiate directly with state and local officials for economic development incentives. 

 

• Business Incentive Procurement:  Incentives may come from different sources to deliver financial assistance for business investing in communities including rebates, assistance with expedited permitting and waiver of permit fees in addition to direct cash grants to support the project. Other programs to consider include forgivable loans, infrastructure assistance and site development assistance. 

 

• Sustainability and ESG Planning:  There are many U.S. Federal Incentive programs available to encourage sustainable investments, including tax credits for solar, energy related credits and deductions under the Inflation Reduction Act (IRA). Businesses can take advantage of the enhanced credits and deductions available beginning in 2023, including Advanced Energy Project Credit, incentives for biodiesel, renewable energy and alternative fuels and sustainable aviation fuel credit.   

 

• Utility & Energy:  The location of new operations is often reliant on access to affordable and clean energy.  Our professionals coordinate efforts between government officials and public utilities to ensure a steady and cost-effective access to energy.

 

• Project Management:  Planning and implementing a new business operation and evaluating available incentives takes significant effort and coordination in order to maximize the potential benefits.  We use a project management approach with our clients to keep site selection and negotiations on track.

 

• Audit Defense and Renegotiation:  Businesses often have trouble meeting the terms and conditions of their tax incentive arrangements.  The COVID 19 Pandemic has especially put business plans back several years.  Our team is experienced with defending businesses being audited and we proactively work with government officials to renegotiate tax incentive arrangements to avoid clawbacks and losing future benefits.

 

• New Market Tax Credits:  The NMTC program incentivizes and enhances community development and economic growth using federal tax credits (35%) that attract private investment to distressed communities and states. We provide comprehensive consulting services on behalf of the project sponsors in every state needing NMTC financing to support projects.

 

• Opportunity Zone Planning:  Opportunity zones offer federal, and sometimes state, tax benefits that defer the tax on qualifying gains.  With planning and the right circumstances, such gains can avoid all tax.

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To further discuss our Business & Economic Development Incentives services and their benefits, please contact any one of the ZHF professionals.