Tax Incentives and Grants Consulting
Cutting cash costs and increasing Return On Investment (ROI) are critical to every business, especially during difficult economic times. However, even when times are good, your company cannot afford to overlook opportunities to improve the bottom line with tax incentives, grants and other economic development incentives offered by federal, state and local governments in return for its investments. M.R. Press Consulting (MRPC) Grants and Tax Incentives practice is focused on assisting companies in obtaining maximum value from such economic development incentives.
In the current economic crisis, state and local governments hosting company facilities will be anxious about losing jobs and highly motivated to do whatever they can to retain or increase jobs and general economic activity. All facilities whose output could change (grow or shrink) as a result of rationalization of capacity, should be analyzed for government-sponsored Grants and Tax Incentives.
MRPC approaches government before announcements or commitments are made in order to maximize the grants and tax credits offered in return for continuing and/or increasing local business activities. We create "managed competition" among all competing locations. Trigger events include:
| Consolidations | Major Capital Expenditures | Relocations |
| Expansions | New Job Creation | R&D Spending |
| Rationalization of Facilities | Personnel Reorganization | Training or Retraining |
M.R. Press Consulting has the experience and resources to complement those of your company at each critical step to assure maximum delivered value with minimum disruption to on-going activities. See a list of the clients we have served and incentive opportunities that may exist in your industry.
Project Mainstream is a new construction, one million plus square foot manufacturing and distribution facility employing more than 350 staff to be located in the Northeast.
Benefits secured will total $13,850,000 and will include:
- Not reviving the Empire Zones Tax Credit Program;
- Pulling state support for projects in certain industries – retail, utilities, and professional services.
- A job growth and attraction program of wage subsidies that mirrors New Jersey’s Business Employment Incentive Program;
- Regional economic development plans that center on “cluster” industries unique to each region.
- An Obama(HIRE)-style tax credit for hiring off the unemployment roles over the next 2 years. The credit would be refundable even for companies with no significant tax liabilities and amount to as much as $3,000 per eligible worker.
For more information on the Cuomo Economic Development Plan click here, http://www.mrpressconsulting.com/thought-leadership.php.
