fbpx

< Back to Thought Leadership

Credits and Incentives: An extra return on your investments.

The topic is always in the news — a state or city offering a major corporation a generous package of incentives to relocate or even to keep their operations in place. However, did you realize, you do not necessarily have to be a Fortune 500 company to negotiate those benefits? Because state and local incentives are offered separately, many states will offer incentives with as little as ten new jobs created over five years, and local authorities will offer incentives with capital expenditures as little as a million dollars.

Every community wants to add good jobs, attract investments, and help its businesses succeed. Federal, state, and local tax jurisdictions offer incentives to stimulate certain investments or encourage those types of investments in their communities.

These incentives are customized according to the needs of each business. They can include real and personal tax abatements, payroll tax credits, infrastructure grants, lower interest loans, tax increment financing, relocation or training grants, special lease or construction terms, and tax refund credits. Some key actions that should trigger a look at potential incentives include:

  • Adding Jobs
  • Buying, Leasing, or Building a Facility
  • Acquisition or Merger
  • Relocating or Expanding Operations
  • Purchasing Equipment
  • Training Initiatives

In addition to the many statutory programs that exist, there are often opportunities to negotiate incentive packages that may combine statutory, discretionary, and custom incentives. We help our clients build credits and incentives investigation into their strategic processes because these opportunities are often lost if you do not pursue them before you begin your activities.

Jobs matter. Governments at all levels offer incentives to companies because they create jobs, promote economic growth, and help maintain an area’s economic vitality and quality of life. Whether you are planning on adding jobs to an existing facility, buying new equipment, opening a new operation or moving to a new location, credits and incentives may be available.

Blue & Co.’s credits and incentives team provides a broad range of services to help clients identify and procure credits and incentives across the full spectrum of federal, state and local programs. If you would like to talk more about potential opportunities for your organization or have questions about this topic, please contact Patrick Brown or your local Blue & Co. advisor.

IRS 501(r) Compliance: Financial Assistance Policy and Amounts Generally Billed Calculation

Non-profit hospital organizations as defined by Section 501(c)(3) must meet requirements imposed by Section 501(r) on a facility-by-facility basis to be treated as a tax-exempt organization. According to the Internal Revenue […]

Learn More

Hospital Price Transparency: What’s New in 2024 and Beyond

The Centers for Medicare & Medicaid Services (CMS) has introduced significant changes to the requirements for hospital price transparency. The aim is to enhance pricing transparency and ensure compliance with […]

Learn More
building and using insurance reserves

Building and Using Insurance Reserves for Sustainability

By Annmarie Novotney, CPA, Director at Blue & Co. Not-for-profit organizations have been dealing with changing circumstances on many fronts over the last five years. Part of this changing landscape […]

Learn More