business incentives practice the shortest path to …

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.


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?”


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.

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3

2

4

REAL-TIME DATA & TRENDS COMPLIANCE SOFTWARE


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: ____________________


SSuummmmaarryy ooff IInncceennttiivveess


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


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.



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


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


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.

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Asset Services

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business incentives practice the shortest path to …

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