BlueCap represents companies in a variety of industries and ranging from growing start-up businesses to Fortune 500 corporations. Past projects ranged from a 30-employee biotech company relocating from Maryland to New Jersey, to a 600-employee corporate headquarters retention project. We manage every assignment with the same commitment to increasing value for our client during every phase of a project.
We appreciate our clients’ privacy. Therefore, BlueCap will not reveal the identity of a client without the client's prior written consent.
Sample Client Successes
US Headquarters Retention
A Fortune 500 client in the financial services industry evaluated their
corporate real estate, including their headquarters
location in New Jersey, which had a real estate lease expiring within
one year. The project involved negotiating job retention and job creation
incentives to support a lease renewal in New Jersey or potentially
relocating the corporate headquarters to alternative locations in
Pennsylvania and Ireland. The client's facility in Pennsylvania was
70 percent occupied, and the location in Ireland was a new company
with vacant space to absorb some of the headquarters function.
After a detailed location review and extensive discussions with the State of New Jersey and the Commonwealth of Pennsylvania, the client decided to renew their lease at the existing headquarters facility and agreed to maintain 600 existing jobs in New Jersey and create another 35 new jobs at the project location. The client received a $4 million incentive package that included a combination of tax credits and a cash grant.
US Facility Consolidation
As a part of a company reorganization, a client in the life sciences industry consolidated their human resource departments from several locations in the U.S. to one location in Tampa, Florida. Although the 75 jobs involved in the consolidation were not new to the company, the State of Florida viewed the jobs as new to the state and eligible for job creation incentives. Using state labor rate figures and other job-related data, we were successful in convincing the state to classify the client's industry as a regional headquarters, which increased the state incentive offer by approximately 60 percent to over $600,000 in tax credits and training grants.
Moving employees across state lines presents an opportunity for incentives. A client relocated
a laboratory operation with approximately 75 existing employees from the State of Kansas to a
location nearby in the State of Missouri. Certain laboratory testing actives are eligible for a
bonus incentive under Missouri's incentive program. After confirming the client was conducting
eligible testing at the new project location on a limited basis, the state revised their incentive
offer by adding the bonus of an extra two years of benefits to the project, which nearly doubled
the size of the incentive award.
Biotechnology Company Relocation
A growing biotechnology company decided to relocate its headquarters from Maryland to New Jersey to be closer to New Jersey's strong pharmaceutical workforce. The company had 16 employees and planned to grow to 35 employees over time. To attract the company to New Jersey, the state provided a cash grant estimated at $1.2 million over 10 years. Our effort to ease the state's discomfort with the client's financials led to the approval of the incentives to support the project.