A software development company was in need of government incentives to expand their business and contribute to the local economy through new employment. Not having completed this type of expansion in the past, the company enlisted Baker Tilly’s help to negotiate the incentives.
Utilizing their experience with state and local governments and their past experience in similar projects, Baker Tilly’s tax credits and incentives team members worked with the client to better understand their goals and financing requirements. With this knowledge and background, the team was able to work with state and local authorities to address the client’s goals.
Our team helped the client secure local real and personal property tax abatements, training grants, and the Michigan MEGA credit by persuading state and local authorities that a new company headquarters would create local jobs and capital investment. The company received total awards of approximately $5.7 million and created 75 new jobs in the first year the new company was headquartered in Michigan. Up to 125 new jobs were expected after six years.
For more information on this topic, or to learn how Baker Tilly software and technology specialists can help, contact our team.
The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely. The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.