IncentiCare - Incentives Compliance
- Is your Company receiving the full value of state and local incentives that have been granted to you?
- Are you enhancing the value of benefits granted to you and identifying additional second tier opportunities for your Company?
- Do you have an integrated Incentives Compliance Program to ensure that you receive these benefits in each and every year you are entitled?
Incentis Group provides support and advisory services that aid recipients of incentives in obtaining and retaining the full value of incentives and credits that they have been granted. Surveys have concluded that as many as 40% of companies that are granted incentives do not receive the complete value of the packages that they have negotiated. Such shortfalls are primarily due to insufficient knowledge of incentives programs and of compliance requirements.
IncentiCare provides value to your incentives negotiations by:
- Assisting you in receiving the full value of the benefits that have been granted to you by government and economic development authorities
- Enhancing the value of granted benefits where possible
- Identifying second tier benefits that you may be eligible to receive
- Developing a comprehensive Incentives Compliance Plan that streamlines the compliance process and ensures all benefits due are received
- Developing an “Early Warning” detection system that identifies potential deficiencies in target performance
- Renegotiating incentives agreements to avoid penalties and clawbacks when deficiencies arise
IncentiCare has highly trained professionals experienced in both securing and retaining incentives throughout the Nation. IncentiCare’s process delivers efficient and effective Incentives Compliance by:
- Identifying and cataloging applicable incentives and credits compliance requirements
- Identifying state and local economic development officials responsible for compliance
- Identifying client personnel that are sources of data necessary to complete compliance reporting
- Developing a schedule of compliance reporting including data source notification dates, data collection deadlines, reporting deadlines, and certification dates
- Customizing a data compilation plan that best fits the client’s internal organization and structure
- Compiling data and preparing required compliance reports
- Submitting compliance reports to appropriate public officials and monitoring certification approvals when appropriate
- Negotiating retention of incentives when investment, jobs, payroll, and other project targets are not achieved or maintained
- Providing electronic and/or internet-based files of compliance reports and applicable data
