Nelson Mullins has a number of attorneys practicing in the economic development area who focus on working with new and expanding businesses. The Firm assists these businesses in relation to tax and other incentive negotiations with state, county, and local governments and has also become involved in the documentation and implementation of the negotiated tax and incentives.
The Firm’s economic development group works closely with numerous companies, based both inside and outside the United States, making new or expanded investments in the Southeast. Our economic development clients include such companies as department store chains, healthcare organizations, utilities, automobile manufacturers, automobile parts suppliers, logistics companies, engineering companies and biopharmaceutical manufacturers. Our representation has included companies making investments as large as $1 billion dollars and as small as $1 million dollars. Nelson Mullins has assisted companies with such incentive-related matters as:
- job tax credits, which involve a state corporate income tax credit for qualifying new full-time jobs created in this state;
- job development credits, which involve an arrangement under which a company may retain a portion of the state income tax employee wage withholdings and apply the proceeds toward the purchase of infrastructure and improvements;
- multi-county industrial parks, which are arrangements under which some of the above-mentioned incentives are substantially enhanced;
- fee-in-lieu of taxes arrangements, which enable qualifying companies to negotiate a substantial reduction in property taxes;
- government funded/provided infrastructure improvements and special source revenue bonds/credits, which essentially enable a qualifying business to negotiate an arrangement under which some portion of fee-in-lieu of property tax payments are applied toward the purchase of infrastructure and improvements for the new facility;
- site preparation;
- land acquisition;
- highway and railroad construction or improvement;
- solid waste disposal facilities;
- water and wastewater treatment facilities;
- employee training (usually through the state technical colleges); and
- employee recruitment.