Corporate executives justify a new project and receive capital budget approval based on the availability of government assistance in the form of discretionary economic development incentives. 

 

On the other hand, federal, state, and local governments are often aggressive in offering financial incentives to attract and retain jobs and capital investment to their tax jurisdiction, particularly when a company is evaluating multiple states for the project.  Incentives negotiated to attract jobs and investments may include:

 

• Cash grants

• Infrastructure improvements

• Property tax abatements

• Sales & use tax exemption

• Tax credits

• Training grants

 

Criteria used by the government to determine the level of assistance for economic development projects:

 

• Number of jobs (new, retained, shifted from other locations)

• Average annual salary

• Skillsets of jobs, degree of employee training

• Amount of capital investment

• Project location

• Industry type

• Technology used

• Availability of other government funding

• Political environment

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Once incentives are approved, BlueCap draws on its experience in compliance reporting to develop strategies, customized to fit the corporate culture of each client, to maximize the receipt of incentive benefits.  BlueCap’s understanding of the mechanics of each incentive program is crucial to developing sound strategies that ensure positive outcomes for clients.

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Incentive reporting usually involves sensitive company information, including employee data.  BlueCap provides controlled access to confidential information and safeguards against exposure to outside threats.  We collect only information that is necessary for reporting and warehouse the data for only as long as required.

 

Also, BlueCap implements strategies when clients fall short of incentive commitments to minimize or eliminate non-compliance penalties.