Advisory Services Governmental Incentive Advisory

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WHAT ARE GOVERNMENTAL INCENTIVES?

Governmental Incentives are programs implemented by local and state governments designed to keep existing businesses from relocating across municipal or state borders, as well as to lure other businesses away from other locations.

WHAT GOVERNMENTAL INCENTIVE ADVISORY SERVICES DOES PODOLSKY|CIRCLE PROVIDE?

Our typical services for office, industrial and retail clients include:

  • Inspection of property
  • Grants
  • Infrastructure Improvements
  • Employee Training
  • Employee Recruitment Assistance
  • Job Creation Tax Credits
  • Utility Incentives
  • Low-Interest Loans
  • Property Tax Abatements
  • Tax Increment Financing (TIF)
  • Technology Credits
  • Income Tax (EDGE) Credits
  • Enterprise Zone Credits
  • Historic Designation Credits
  • Energy Efficiency Credits

HOW DOES PODOLSKY|CIRCLE MAKE GOVERNMENTAL INCENTIVES WORK FOR YOU?

As part of Podolsky|Circle’s services, we advise our clients in the structuring and capturing of the most beneficial economic governmental incentive package available. Incentives vary from one jurisdiction to another and the preferred method of negotiation will vary from state to state.

In structuring “win-win” arrangements with state and local governments, both the client and the public jurisdictions can benefit from the capital investment and job creation brought about through real estate and location commitments. We will evaluate potential incentives available from federal, state, county and municipal governments, as well as special industry development agencies, utilities and private interests. Beneficial incentives typically come in the form of statutory credits and negotiated incentives.

The process of incentive structuring and negotiation involves a review of the project in order to determine those areas of assistance that would be of most benefit. The economic impact contribution is calculated to demonstrate to the various governmental authorities that the benefit brought about by the potential investment is beneficial to the entire community.

GOVERNMENTAL INCENTIVE PROGRAMS INCLUDE:

THE ECONOMIC DEVELOPMENT FOR A GROWING ECONOMY TAX CREDIT PROGRAM (EDGE)

The EDGE program is designed to offer a special tax incentive to encourage companies to locate or expand operations in Illinois when there is active consideration of a competing location in another State. The program can provide tax credits to qualifying companies, equal to the amount of state income taxes withheld from the salaries of employees in the newly created jobs.

THE EMPLOYER TRAINING INVESTMENT PROGRAM (ETIP)

ETIP helps keep Illinois workers’ skills in pace with new technologies and business practices, which, in turn, helps businesses increase productivity, reduce costs, improve quality and boost competitiveness. ETIP grants can reimburse new or expanding companies for up to 50 percent of the cost of training their employees.

 

OUR PHILOSOPHY

Regardless of the size of the assignment, it is our mission to accomplish our clients’ specified objectives. In most cases this means filling space vacancies with minimal downtime and expense, but it can also include property positioning, existing tenant retention, vetting of prospective tenants and asset protection services.”