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Some of the most lucrative incentives available to employers are not actually statutory in nature, but instead, may be made available only by approaching the state and local municipality and asking for them. In order to spur business development, many areas may make available real and personal property tax abatements, employment tax rebates, cash grants, fast track permitting, utility rate reductions, freeport exemptions, tax increment financing, industrial development bonds, and inventory tax exemptions or credits. Gaining access to these incentive packages requires intricate knowledge of all program areas and often intense negotiations. Even though the process can be quite complicated, with the help of our experienced professionals, the end results can be well worth the effort.
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