Economic Development Incentives

Overview

Every year, local and state governments dole out billions of dollars in economic development incentives. Yet these deals are increasingly under the spotlight, with high-profile examples even making the news for their downfalls. At the same time, companies are under pressure to make good use of their incentives to create jobs, invest in communities and strengthen local industries. As a result, companies need seasoned counsel deeply established in local markets to navigate the multifaceted challenges of an expansion or relocation.

Turner Padget’s Economic Development Incentives Practice partners with new and expanding businesses looking to locate to the Southeast. We help clients explore and evaluate their available tax and incentive options, negotiate agreements with local governments and utilities, and document and implement incentive packages.

Realizing that our clients are best served by a holistic, whole-company approach, and our group ensures all aspects of an expansion or new location are addressed. This includes not only working with a client’s project coordinators and consultants on incentives, such as Fee-in-Lieu-of-Tax (FILOT) agreements, job credits, and government and utility grants, but also on-site selection, real estate transactions, financing, lease agreements, and construction planning, contracting and permitting.

We serve our clients in the following ways:

Corporate headquarters and infrastructure tax credits
Design and build lease agreements
Employee training programs and grants
Enterprise zone and job development credits
Fee-in-Lieu-of-Tax (FILOT) agreements
Government grants
Jobs tax credits
Multi-county business industrial parks
Sales tax exemptions
Special source revenue credits
Synthetic lease agreements
Tax abatements
Utility grants and incentives

Experience

Assisted the a national food products manufacturer in its first new plant location and construction in the United States in more than 50 years. Our team negotiated and helped to implement tax and other incentives, along with the associated real estate transaction, to assist the company in a Florence County investment valued at more than $100 million.
Handled the FILOT agreement, real estate purchase and construction contract for a manufacturer of cab roll-over protection systems. After the plant was operational, we continued to assist in ongoing legal matters, including contract negotiations and implementation, and employment and labor matters.
Assisted the Ahlstrom group of companies in a number of different plant purchases and relocations, involving the assumption of existing FILOT agreements, and the relocation of equipment that qualified under the agreements.
Provided a consulting firm with an analysis of available incentive options and potential grants as it recommended the final list of potential site locations to its client.