Incentives Advisory
Every year, federal, state and city governments across the United States invest over $170 billion of incentive funding into private businesses. Taking advantage of available incentives programs can fill financing gaps and turn planned projects into a reality.
Incentives Advisory
Unlocking growth with state and local economic development incentives
If your company is considering expanding operations and hiring new employees, planning for significant capital expenditures, investing in real estate or equipment or renovating or opening new facilities, now is the perfect time to explore economic development incentives.
What are economic development incentives?
These programs provide strategic financial support to reduce costs, improve site readiness and help maximize return on investment. Economic development incentives are offered by state and local governments, as well as utilities and not-for-profit organizations, to foster job creation, attract business investment and stimulate economic growth. These incentives may be statutory or discretionary and can take many forms, including:
- Grants
- Tax credits
- Infrastructure improvements
- Tax increment financing
- Income, sales and property tax incentives
- Workforce development and training support
- Other direct and indirect financial assistance
Discretionary incentives typically require businesses to demonstrate that incentives are essential to securing the project.
Negotiating incentives to maximize impact
Start todayUnlike federal tax programs, many state and local business incentives require negotiation, offering flexibility but often lacking transparency or consistency across jurisdictions.
Businesses should leverage their economic and social contributions when negotiating incentives, emphasizing benefits such as:
- Job creation and local business growth
- Increased property values and tax revenues
- Positive community impact and revitalization opportunities
By strategically positioning these advantages, companies can maximize available business incentives and create lasting economic value.
Better together
Baker Tilly Expands Specialty Tax Services with Invoke Tax Partners
Baker Tilly acquires Invoke Tax Partners, a nationally recognized state and local tax specialty firm based in Dallas. This acquisition enhances Baker Tilly’s capabilities in real estate and business personal property tax, sales and use tax and severance tax.
Our turn-key approach
Research
We review your current and future investment plans, identifying investments that may be eligible for incentives and researching available incentives to estimate their potential value to your company, considering capital needs and tax liability.
Strategy
Our team of specialists assists in developing comprehensive or project-specific incentive strategies, issuing economic impact reports and communicating and presenting incentive justification to government officials.
Negotiation and execution
We support you in negotiation and execution of incentive offers with program administrators, including analysis of the tax implications of an incentives award, execution of incentive agreements and presentation of the project to elective officials, stakeholders and taxpayers in public meetings.
Implementation
Baker Tilly assists you in implementation of incentives, including structuring them into the overall capital stack, full support of transaction team through closing, coordination of positive press during announcement and when necessary, monetizing incentive awards with lenders and investors.
Compliance
Our team aids in the development of compliance reporting matrices, provides annual reporting support, re-negotiates incentive agreements when necessary and evaluates opportunities for additional incentives as projects grow.