business incentives practice the shortest path to …
TRANSCRIPT
THE SHORTEST PATH TO SUCCESS
BUSINESS INCENTIVES PRACTICE
LOCATION DECISIONS
ARE VALUABLE.Cushman & Wakefield’s Business Incentives Practice implements strategies for the development, expansion, consolidation or relocation of facilities. Your firm’s presence in a particular location has tremendous financial implications not only for your company but also for the local municipality and state.
We create competition for that residency, unearthing financial opportunities through the procurement of local and state economic incentives. We identify, evaluate, and negotiate incentives such as cash grants, infrastructure improvements, tax reductions, and job training. We evaluate local labor and area amenities to ensure that your business can be properly scaled.
Our experience lives within all industries and sectors, with clients ranging in size from Global 2000 firms to individual owners, occupiers and developers.
Our goal is singular.
Reduce your total real estate cost with the shortest, clearest path to financial success.
2 | BUSINESS INCENTIVES PRACTICE
HOW WE CAN HELP
• Develop a comprehensive strategy based on each client’s individual tax and business assessment
• Expertly engage local and state officials through our time-tested relationships
• Create competition for your residency
• File necessary reports and applications
• Effectively compare multiple incentive offers against a wide range of quantitiative and qualitative factors
• Track real-time financial incentives awarded nationally for comparison
• Negotiate to ensure all possible benefits are secured
• Monitor terms for compliance
• Provide a seamless connection to a full range of in-house services including brokerage and construction management
CUSHMAN & WAKEFIELD | 3
WHAT WE SEEK
• Tax abatements, credits, and refunds
• Recruitment and training assistance
• Relocation expense reimbursement
• Favorable utility rates
• Taxable and tax exempt industrial revenue bonds.
• Revenue bonds
• Infrastructure and fixed-asset grants
• Transportation improvements
• Low Interest loans
• Forgivable debt
• Expedited permitting and variances
WHAT ARE CLAWBACKS AND HOW WOULD THEY
AFFECT ME?”
We help you ask the right questions.Every step of the way.
4 | BUSINESS INCENTIVES PRACTICE
WHAT IF THERE ARE CHANGES TO THE SCOPE OF MY
PROJECT?”
WHO ARE THE TYPICAL STAKEHOLDERS
IN THE COMPLIANCE PROCESS?”
WHAT SHOULD I ASK FOR AND WHAT SHOULD I
EXPECT?”
CAN I GET INCENTIVES IF I’M
NOT ADDING JOBS?”
AREN’T THESE PROGRAMS ONLY FOR BIG PUBLIC COMPANIES?”
HOW DO I AVOID MISSING OUT
ON CERTAIN INCENTIVES?”
CUSHMAN & WAKEFIELD | 5
A TIME-TESTED PROCESSTO ENSURE EFFICIENT AND PREDICTABLE RESULTS
FEASIBILITY
NEGOTIATION
IMPLEMENTATION
ADMINISTRATION
CONFIDENTIALLY IDENTIFY AND ANALYZE INCENTIVE OPPORTUNITIES AVAILABLE TO THE PROJECT
PREPARE NEGOTIATION STRATEGY, EXECUTE AND OBTAIN FORMAL INCENTIVE OFFERS.
PREPARE APPLICATIONS, ATTEND PUBLIC MEETINGS AND FINALIZE FORMAL INCENTIVE CONTRACTS.
PREPARE ADMINISTRATION WORK PLAN, MONITOR AND ASSIST REPORTING AND COMPLIANCE.
1
3
2
4
REAL-TIME DATA & TRENDS COMPLIANCE SOFTWARE
6 | BUSINESS INCENTIVES PRACTICE
Cushman & Wakefield has a dedicated team and a proven, thorough process in place to manage the full suite of incentives awarded for a project. Our custom and client-accessible platform mitigates risk, documents task management milestones and produces key project measurements throughout the life of the incentive.
KEY BENEFITS:
• Manage state/local, developer/landlord and utility provider tasks
• View multiple projects simultaneously
• Gain visibility into modifications that have occurred since approval
• Access live comparison of actual benefits to expected benefits andexecuted agreements
• Understand tax implications and filings
• Generate uniform reports
In Insert Client Logo // Project X Summary
Welcome to the Implementation Phase of Project______. Cushman & Wakefield’s Business Incentives Practice (“C&W-BIP”) is pleased to be working with _________ to administer the incentives package negotiated for Project ____________ and approved on _________. We are looking forward to working with your team in the coming years to ensure a smooth implementation of the incentive programs detailed below.
C&W-BIP has assembled a project team to assist in the implementation of ______’s incentives. Please feel free to reach out to any of us with any questions you may have.
BBuussiinneessss IInncceennttiivvee CCoonnttaaccttss Name Title Email Phone Number
Name Title Email Phone Number
Name Title Email Phone Number
IInncceennttiivvee PPrrooggrraamm TTyyppee ooff BBeenneeffiitt EEssttiimmaatteedd VVaalluuee
Program A
Program B
Program C
Program D
Total Estimated Value
Company signature: Date: ____________________
In Insert Client Logo // Project X Summary
SSuummmmaarryy ooff IInncceennttiivveess
In Insert Client Logo // Project X Summary
The following incentives were awarded to _______ for the ______ project located in _____, __.
A summary of the incentives follows:
Incentive Program Type of Benefit Estimated Total
Value Value of Incentive Received to Date Benefit Remaining
As of ________, _________ has achieved the following:
IInncceennttiivvee AA
Requirement Achieved
% of Commitment
Achieved In Good
Standing? Incentive
Complete? Next
Requirement Investment
Land Real Property
Personal Property Headcount
Net New Retained
Average Wage Other
Company signature: Date: ____________________
DDaattee::
PPrroojjeecctt NNaammee::
PPrroojjeecctt SSttaattuuss && PPeerrffoorrmmaannccee UUppddaattee
CUSHMAN & WAKEFIELD | 7
REAL-TIME DATA & TRENDS INCENTIVE DEAL DATABASE
AVERAGE INCENTIVE AWARD
AVERAGE ANNUAL NUMBER OF PROJECTS
AVERAGE INCENTIVE PER NEW JOB
OUR KNOWLEDGE
YOUR OPPORTUNITY
Our access to detailed code, regulations, and case law
allows us to see opportunities
that others can’t.
AVERAGE INCENTIVE % OF CAPEX
Note: Shading indicates the number of incentive deals tracked. Darker areas have more dense incentive activity. Data can be further narrowed down by industry as well as various other qualities.
$2.9M 3,480 10.2% $14,248
KNOWLEDGE SAMPLE OF US INCENTIVES TRACKED
Source: IncentivesFlow from WAVTEQ 2020.Based on a 3-year span 2017-2019.
MEET THE TEAMELEVATING YOU TO NEW HEIGHTS
We provide our clients with an experienced team focused on early involvement to achieve maximum benefits.
8 | BUSINESS INCENTIVES PRACTICE
CUSHMAN & WAKEFIELD | 9
MEET THE TEAMELEVATING YOU TO NEW HEIGHTS
Accounting
Construction
Engineering
Finance
Legal
Government
Tax Consulting
Our team is ready to coordinate our full range of incentive procurement
services on your behalf, regardless of location or scope.
For general inquiries: [email protected]
Shannon O’HareManaging [email protected]
Bradley MigdalSenior Managing [email protected]
Jason LakeSenior Managing Director [email protected]
Jane OrlinSenior Managing [email protected]
Betty McIntoshSenior Managing [email protected]
Amy GerberExec. Managing [email protected]
WHAT OUR CLIENTS SAY
10 | BUSINESS INCENTIVES PRACTICE
Cushman & Wakefield’s Business Incentives Practice has been our sole provider for 15 years. A combination of practical honest advice and dogged follow-up on compliance and dispute matters has convinced us to ignore solicitation of their competitors. Our partners at Cushman have consistently brought us technical ideas and angles to increase incentives negotiated and tax return positions.”
- Vice President,A Global Manufacturing Company
CUSHMAN & WAKEFIELD | 11
We’ve relied on our partners at Cushman
for over 10 years to manage the entire incentive process – from opportunity
evaluation through negotiation, compliance, cash collection, and
dispute resolution. They allow us to focus more of our time on
strategic initiatives.”
- Vice President of Tax and Customs, Global Energy Sector Client
About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real
estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately
51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of
property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit
www.cushmanwakefield.com or follow @CushWake on Twitter.
cushmanwakefield.com Copyright © 2019 Cushman & Wakefield. All rights reserved.
Service LinesAgency Leasing
Asset Services
Capital Markets
Facility Services
Global Occupier Services
Project & Development Services
Tenant Representation
Valuation & Advisory
Property TypesHealthcare
Hospitality
Industrial
Land
Multi-family
Office
Retail
Advisory GroupsAutomotive
Banking & Financial
Build-to-Suit
Data Center
eCommerce & Electronic Fulfillment
Education
Emerging Technology
Food & Beverage
Global Supply Chain Solutions
Healthcare
Land
Legal Sector
Life Sciences
Net Lease
Not-for-Profit
Ports & Intermodal
Public Sector
Rail
Sports & Entertainment
Third-Party Logistics (3PL)
Cushman & Wakefield Capabilities