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Practices + Industries

Economic Development Incentives

Overview

The Economic Development Incentives Group works to provide expanding and new business, looking to locate in South Carolina, with exploration and evaluation of the tax and incentive options available, negotiation of incentive agreements with local and state government and municipal and public utilities, and documentation and implementation of the incentive package.

We feel that our clients are best served by a whole-company approach, and so our team works to make sure all aspects of an expansion or new location are addressed.  This includes not only working with the client’s project coordinators and consultants on incentives such as Fee-in-Lieu-of-Tax agreements, job credits, and government and utility grants, but also site selection assistance, real estate transactions, financing, lease agreements, and construction planning, contracting, and permitting.  In addition, recognizing the importance of a good, positive start to a new project, our team assists the client by coordinating other legal needs, including business organization, employment, intellectual property, immigration, taxation, finance, real estate, and contracts.  Therefore, the attorneys on the Economic Development team also practice extensively in the firm’s other business groups.

We serve our clients in the following areas:

  • Fee In Lieu of Tax Agreements
  • Multi-county Business Industrial Parks
  • Special Source Revenue Credits
  • Jobs Tax Credits
  • Corporate Headquarters and Infrastructure Tax Credits
  • Government Grants
  • Utility Grants and Incentives
  • Enterprise Zone and Job Development Credits
  • Employee Training Programs and Grants
  • Synthetic Lease Agreements
  • Design and Build Leas Agreements
  • Sales Tax Exemptions
  • Tax Abatements

Representative Engagements

  • Assisted Heinz Company in its first new plant location and construction in the United States in over fifty years.  Turner Padget helped negotiate and implement tax and other incentives, along with the associated real estate transaction, to assist Heinz in an investment in Florence County, South Carolina, of over 100 million dollars.
  • Handled the FILOT agreement, real estate purchase, and construction contract for a manufacturer of cab roll-over protection systems.  After the plant was operational, Turner Padget continued to assist the client in ongoing legal matters, including contract negotiations and implementation and employment and labor.
  • Assisted the Ahlstrom group of companies in a number of different plant purchases and relocations, involving the assumption of existing FILOT agreements, and the relocation of equipment that qualified under the agreements.
  • Provided a consulting firm with analysis of available incentive options and potential grants to allow the consulting firm to recommend the final list of potential site locations to its client.