There are so many opportunities for funding across America, from federal loans and grants to state and local program. What you may not know is states nationwide are actively pursuing and seeking new business that will move, build, or open new facilities within their borders.
Each state offers tax credits, grants, loans, and training programs to incentivize business development. A10 Associates has relationships with economic development offices nationwide that can assist with site selection and securing state incentives. Our team works directly with the economic development offices to ensure your company receives the best incentives possible for your project.
Below are a few examples of successes with our clients during the economic development process:
- Electric Vehicle Charger Manufacturing Plant – In Tennessee, we recently negotiated a $2 million increase in state incentives from the original offer for our client’s proposed manufacturing facility. Through leveraging our connections and vetting state incentives, A10 works to get our clients the best deal possible in the states that are most favorable for them to develop in.
- Battery Energy Storage System Manufacturing Plant – In our economic development process, A10 works with multiple states to receive comprehensive incentive offers for comparison and negotiation. For our battery storage client, we negotiated a total Incentive value of $14 million in South Carolina for job development, sales tax exemptions, job tax credits, and more. We also secured another $2.6 million in incentives as jobs and machinery F&E tax credits and other grants and exemptions.
- Semiconductor and Lithium Niobate Wafer Chip Fabrication Facility – For clients that have their mind set on a state due to the technology environment and relationships being favorable, A10 approaches the state economic development offices with a competitive approach, negotiating tax and rebate incentives according to the project’s return value for the state and the company’s projected growth potential. Our clients recently received incentives with a total value of $5.2 million, including tax depreciation, and R&D tax credits, among others.
- Corn Waste Recycling Facility – States are particularly interested in projects that involve a circular economy, clean energy, and recycling components. Companies that not only manufacture but recycle waste products into new materials are attractive to states to improve their portfolio of manufacturing companies. Recently, A10 worked with the State of Indiana, including state officials and the Economic Development Office, for a client that recycles corn waste into other products,. In total, we negotiated $3.5 million in tax credits and incentives for the client.
If you are seeking funding opportunities at a state or federal level, A10 Associates can help. Please reach out to CEO Jessica Tocco at [email protected] to discuss how we can assist.
