It’s Never too Late to look for Credits & Incentives
opportunities for your clients!
Spring is around the corner and we know many growth conversations with clients happen as the weather turns and shovels go in the ground. At McGuire Sponsel, we have a diverse team of experts with a wealth of credits and incentives knowledge and experience. What are Credits and Incentives? Credits and incentives are the statutory and discretionary programs available to support companies who are investing capital and/or creating new jobs. From tax credits to grant programs to property tax abatements, our Credit & Incentive Services (C&I) team scours any and all agencies who provide incentives for firms undergoing such growth and run alongside clients from procurement all the way through realization of programs and benefits.
There are a few important considerations regarding C&I projects: total capital investment, number of new jobs to be created, location, timing, and industry. One of the most important factors is, indeed, timing. Typically, you and your clients are going to have a strategic advantage the earlier we are involved in a project. We can negotiate higher incentives and have more time to navigate application processes when there is more time on our side ahead of shovels in the ground. And, projects have to usually be ‘competitive’ in that if the land or building are not yet purchased, we still have leverage to argue (on behalf of you and your client) that the project needs community support through incentives in order to move forward.
With timing in mind, we understand you as the CPA might not have heard about it first. We often work within short and long timeframes provided by clients and secure any and all programs for which they would still qualify regardless of where your clients stand in the process. Our team does not delay projects in any way and will simply add unrealized value to the deal pending available programs.
Many of our CPA partners have discussions with their clients regarding strategic growth plans for the coming tax year: it is in these discussions where we typically learn about Credits & Incentives-eligible projects and plans. If a client is planning such a project, or perhaps have even started moving forward with one, it is never too late to look for Credits & Incentives opportunities!
Keep our Credits & Incentives team in mind as to chat growth with clients and know that we are ready to answer your questions and run alongside clients in all efforts.
Emily Poole joined McGuire Sponsel’s in 2021 as a Credits & Incentives Consultant after nearly a decade in public economic development offices. She has a wealth of knowledge and expertise in tax credits and State incentive programs and enjoys assisting companies with their Site Selection efforts.