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Incentives
 
Experience
 
NEES President Rod Jané is former Executive Director of the Massachusetts Office of Business
Development, which administers the state's economic development incentives programs including
Tax Increment Financing (TIF) and Investment Tax Credits. In that role, he and his team put together
some of the most comprehensive incentives packages in the history of the state for companies like
Bristol Myers Squibb, Bayer Health Care, Motorola, and Intel. Rod and his team also structured
attractive incentive packages for smaller growth projects like Nuvera Fuel Cells and Valeritas. NEES
has intimate knowledge of the incentives available at the state and municipal levels within Massachusetts
and the surrounding New England states.
 
 
Incentives for New Sites, Expansions, and Relocations
 
Incentives Process
 
1. Identify Incentives Programs

New England Expansion Strategies utilizes a thorough and proactive approach to obtain incentives for its clients in order to maximize savings and minimize project costs. For client companies that are expanding, relocating, building or leasing a new facility, investing in new equipment or training, or hiring new employees, there are multiple economic development incentives offered at the state and local level. The most important way for a client company to maximize the value of incentives is to bring NEES into the project at an early stage before final real estate or construction commitments are made. Whether NEES is conducting the site selection process for the client or not, we can add substantial value to the client by managing the incentives portion of the project. We will evaluate the client's business and project plan and identify all relevant incentives that may be available including:

 

  • Tax Incentives
  • Tax Increment Financing (TIF)
  • Investment Tax Credits
  • Abandoned Building Tax Deductions
  • Brownsfield Grants and Loans
  • Chapter 59 Section 38H Energy Generator PILOT's
  • Green Building Grants and Loans
  • Hiring Grants                                                                                           
  • I-Cubed
  • Job Creation Incentive Payments
  • Low Interest Real Estate & Equipment Loans
  • MA Historical Tax Credits
  • MA Life Sciences Center - Capital Grants and Loans
  • Massachusetts Life Sciences Center - Tax Incentives 
  • New Market Tax Credits
  • Public Infrastructure Grants
  • R&D Tax Credits
  • Renewable Energy Project Grants and Loans
  • Tax Exempt Industrial Bonds
  • Workforce Training Grants
  •  

 

 

2. Negotiations and Approvals

 

The wide range of economic development incentives that may come into play on a project come from many sources and are controlled by a multitude of different authorities including:

 

  • State Government Agencies
  • Quasi Public Institutions
  • Municipal Governments
  • Non-Profit Organizations
  • Financial Institutions

 

New England Expansion Strategies will utilize its intimate knowledge of the incentives programs and its broad network of relationships with municipal and state officials to negotiate the best possible incentives deal for the client - one that reaches an appropriate balance between maximizing the client's savings and meeting the objectives of the municipality and state thereby maximizing the probability of approval. NEES clearly understands the importance of maintaining a strong, positive, supportive relationship between the client and both the municipality and state, so all negotiations will be conducted professionally, courteously, and with integrity. The credibility and reputation that NEES brings to the table are well known in New England at both the state and municipal levels and are part of the value that we bring to the negotiations. Once the incentives have been negotiated and agreed upon by both parties, NEES will fill out all the required agreements, applications, and paperwork required for formal approvals. We will go before any required public boards, councils, public hearings, and Town Meetings to represent the client, present the project, answer questions, and obtain formal approvals.
 

3. Administration of Incentives
 
Many economic development incentives programs require periodic reporting and filing to ensure that the incentive benefits are received on an ongoing basis. New England Expansion Strategies can administer the programs for the client to save time and ensure that all reports and filings are submitted on a timely basis.
 
Other Incentives:
 
For clients who do not have an active real estate expansion or relocation project planned, there are still multiple opportunities to take advantage of incentives programs that can save the company money, particularly in the areas of workforce training grants, hiring and job creation grants, green building grants and tax credits, and low interest rate loans for equipment purchases.

Note: The logos above are the registered trademarks of MassDevelopment, Connecticut Economic Resources Center, Connecticut Ecomomic and Community Development, Massachusetts Clean Energy Center, and the Rhode Island Economic Development Corporation.