TMC has had a long history of dealing with incentives, and the issues associated with pursuing them. We’ve acquired approvals for high-rise building signage, dedicated parking access, energy tax credits, TI grants, low interest loans, free transit passes and many other incentives.
Historically, most corporations thought of incentives as merely for large semiconductor companies building plants while avoiding large real and personal property taxes. But to encourage jobs more cities, counties and states are now offering incentives to companies to create new jobs or keep existing ones.
We often see companies exhibiting an overly aggressive and leveraged or threatening approach to this. We don’t see those companies as well counseled. Finding available incentives is a delicate balance and it’s important that our clients are good corporate citizens and viewed that way. TMC’s approach is to be aggressive in finding available incentives and being conscientious of our client’s image. The relationship between a corporate citizen and the area they work in is an important image requirement.
We treated it just like that when we served our pharmaceutical client. We didn’t threaten that we were going to Texas or South Carolina if the locals didn’t give us incentives. Instead we explored collaboratively with the State and Local government how our client’s business fit their goals. And we examined openly our client’s hiring plans and what jobs they would bring to the community.
In the end our client received almost $100,000 in a grant that went to any company that would hire and keep the amount of employees we were hiring. Almost $400,000 in tax abatements and credits were granted because of the nature of tenant improvements and real and personal property taxes we were creating with our construction and use. In the end both parties commented on how the other party was comfortable to work with and high minded with regards to incentives. And from it was crafted another successful incentives service by TMC. We provided this service to our client at no cost, as we delivered it as part of the tenant rep fee paid by the landlord.
Learn more about how this can benefit your company, anywhere in the US.