KBKG Introduces State Incentives & Location Advisory Service
KBKG, a prominent tax specialty firm, has proudly announced the launch of its innovative State Incentives & Location Advisory (SILA) service. This cutting-edge initiative is designed to assist businesses in pinpointing, negotiating, and securing valuable state and local credits and incentives associated with various actions such as capital investments, job creation, expansions, and relocations throughout the country.
Maximizing Returns on Investment
With jurisdictions competing fiercely for new developments, businesses can take advantage of a myriad of programs that often include enticing options like payroll benefits, income tax credits, property tax abatements, training grants, and infrastructure support. Gaining a comprehensive understanding of the incentives landscape is crucial for amplifying return on investment (ROI) on significant investments in facilities and workforce. Research indicates that organizations can often secure benefits equating to up to 30% of their total project investment. Therefore, initiating discussions regarding these incentives before project activities commence is imperative for successful negotiations.
Understanding Eligibility Criteria
Companies looking to expand or relocate, especially those providing 20 or more new or retained jobs at a single site, or investing over $5 million in real or personal property, usually qualify for the SILA services. Early engagement during the planning phase is vital, allowing businesses to maximize their options and negotiate favorable terms when structuring agreements.
The Competitive Edge in a Rapidly Changing Landscape
According to Patrick Hanlon, Director of State Incentives and Location Advisory at KBKG, the landscape of state and local incentives is in constant flux as the race for investments heats up. KBKG's SILA team supports clients in evaluating opportunities at the earliest stages, facilitating competitive negotiations, and establishing compliant practices to secure incentives effectively over time. Appreciating the potential impact of these programs can be transformative for long-term project profitability.
Industries Benefiting from SILA Services
KBKG's new advisory practice extends across a wide array of sectors, encompassing manufacturing, distribution, technology, biotech, renewable energy, agribusiness, and various headquarters operations. This broad scope emphasizes KBKG's commitment to supporting diverse business needs.
Comprehensive Range of Services Offered
The SILA team at KBKG provides assistance concerning various credits and incentives, ensuring clients can navigate the landscape effectively. Their offerings include:
- Negotiated State & Local Incentives
- Statutory Credit Identification & Application Support
- Site Selection & Location Advisory
Three Phases of the SILA Process
The SILA approach consists of three customizable phases, each tailored to align with a client’s specific project lifecycle:
- Strategic Evaluation – Gathering essential project details to create a comprehensive opportunity evaluation.
- Government Discussions – Crafting strategies for negotiation and securing competitive incentive offers.
- Compliance Assistance – Setting up a compliance team and tracking methods to ensure ongoing eligibility for incentives.
Making a Difference in Financial Outcomes
As Jason Melillo, CEO of KBKG, states, the introduction of SILA significantly enhances their capacity to provide measurable financial results through specialized services. This new offering is an essential extension of their dedication to empowering clients in driving growth and innovation, while successfully navigating the intricate systems of credits and incentives.
Contact Information for Further Inquiries
For more information about the SILA service or to arrange a consultation, please reach out to:
Patrick Hanlon
Director – State Incentives and Location Advisory
Phone: 312-847-5394
About KBKG
Founded in 1999 with a presence across the country, KBKG has assisted businesses and their CPAs in unlocking over $10 billion in tax credits and incentives. The team comprises engineers, legal professionals, and tax experts who are independent from CPA firms. Focused on adding value to traditional tax and accounting services, including R&D Credits, Energy Tax Incentives, and Cost Segregation, KBKG consistently delivers quantifiable benefits. Their ability to collaborate efficiently with different teams is a key factor in their widespread trust from tax professionals and businesses nationwide.
Frequently Asked Questions
What is the purpose of the KBKG SILA service?
The SILA service is intended to help businesses identify and secure state and local incentives to maximize their return on investment for capital projects.
Who qualifies for the SILA service?
Companies that expand or relocate, creating 20 or more jobs or making capital investments over $5 million, typically qualify for these services.
How does KBKG assist in the negotiation process?
KBKG assists clients by evaluating opportunities, crafting negotiation strategies, and securing competitive offers for incentives.
What industries does the SILA service cater to?
The SILA service supports a variety of industries, including manufacturing, technology, biotech, and renewable energy.
How can I contact KBKG for more information?
You can contact Patrick Hanlon, the Director of SILA, to learn more about the services or to schedule a consultation.
