A rapidly growing life sciences company needed to identify a new site for its headquarters and operations. Two locations in adjoining counties were evaluated. Incentive offers were obtained from both sites and the state.
The total proposed company investment was $3.3 million. A commitment was made for the retention of 34 jobs and the creation of 298 new full-time positions with a total payroll of $12.9 million over 4 full calendar years.
Managing the politics of the two competing sites within a state required experience, skill and sensitivity to achieve a successful outcome. Rubin Advisors Inc. was able to obtain attractive incentive packages from all process participants, to include personal property tax abatement from a community that does not routinely award this type of benefit.
The company was also the recipient of two different state level tax credit programs, one of which had a refund component and the other a roll-forward provision. The total incentive package value exceeded $2 million.