Mitra Chem Proposal
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SCOPE OF WORK
SCOPE OF WORK
BUSINESS INCENTIVES CONT’D Below is a high level summary of typical economic development tools for five prominent states in the Southeast as well as a recently incented company benchmark.
TRANSACTION MANAGEMENT AND REAL ESTATE FEASIBILITY Real estate feasibility evaluation of potential markets may include the following as appropriate: • General location attributes such as soft-support for production and manufacturing facilities • Access to transportation nodes, railways, ports, and interstates • Zoning and entitlements support in key industrial areas • Local permitting processes • Quantity of potential sites, existing facilities and under construction buildings that could potentially meet project objectives The real estate feasibility study is an iterative process that starts after identifying potential markets that meet labor and workforce requirements. The Real Estate Feasibility study will be conducted in parallel to the Incentives Feasibility study. As both studies complete, C&W will combine all relevant data into integrated deliverables for a holistic view of the top candidate market locations and all of the appropriate attributes. Each market location will be benchmarked against each other with scorecards. PROJECT MANAGEMENT While we understand this isn’t of initial concern, we wanted to expand on C&W’s Project & Development Services offerings in the event our assistance is required as the process evolves. Cushman & Wakefield’s project management team, Project & Development Services (PDS), understands that real estate decisions go beyond scope, schedule, and budget. We manage the planning, design, and construction process, to ensure value and savings, without sacrificing quality. Our project managers consistently deliver 10% to 15% construction cost savings to our clients and schedule improvements, while minimizing project risks.
C&W’s PDS team pursues the best solutions on behalf of our clients. It is not as simple as saying, “on time and on budget”. We listen closely to our clients, fully grasping their project goals and business needs while driving quality beyond their expectations. It takes determination to produce that level of work, and world-class expertise to do it well. C&W provides expert, end-to-end Project Management services that remove the risk for our clients. The key to our success is early involvement. Our Project Management team assists transaction teams with initial building selection activities while providing advice and input on work letters and related lease provision. Ultimately, we are engaged to bring work culture to life. C&W will manage the entire construction process from upfront strategic planning to move and relocation services. Lined-Up Service Providers – Cushman & Wakefield maintains a network of external architectural and engineering service providers and is able to make contractor recommendations based on site location and scope of the services required. These providers are accompanied by our in-house project and development services team. The Request for Proposal (RFP) & Competitive Bidding Process – Cushman & Wakefield has a highly developed process for the creation and distribution of RFPs, analyzing the responses, and ultimately providing disciplined recommendations on vendors and consultants for this project based upon cost, quality, experience, industry reputation, and more. Process – After identifying all team members, Cushman & Wakefield will create a list of potential bidders for each discipline that will receive an RFP. We routinely include all the vendors and consultants that have an existing relationship with our clients on the RFP distribution list.
Grants or Monetizable Incentives
Property Tax Relief or TIF Financing
Infrastructure Programs
Utility Cost Incentives
Location
Sales Tax Relief
Notes
Notable Recent Incentives
Nucor ($350M Capex, 180 Jobs)
Most state programs are based on headcount; however, depending upon location there could be a strong grant funding for capital investment. Recently reduced property tax assessment ratio for manufacturers. Property tax relief can be negotiated for up to 30 years. Strong state grant program and TVA (electric) can also provide cash grants to projects.
Incentives: - Employee Withholding Incentive - Cash Grant - Utility Infrastructure Incentive - Rail spur construction - Local cash grant on incremental property taxes
North Carolina
Yes (in form of grant)
Yes, in certain locations
Manufacturing
Yes
Yes
Tyson Food ($300M Capex, 376 Jobs)
Manufacturing and building materials 1
South Carolina
Yes
Yes
Yes
Yes
Incentives: - State Grant - Tobacco Region Opportunity Fund
Mullen Technologies ($362M Capex, 434 Jobs)
Tennessee
Yes
Yes
Yes
Manufacturing
Yes
Incentive: - Property tax relief on building and equipment
Shaw Industries Group ($400M Capex, 300 Jobs)
For a BTS location, company may have the opportunity to compete electric providers.
Yes, depending upon location Manufacturing
Incentive: - Infrastructure grant - Employee Withholding incentive - 20-year FILOT incentive
Georgia
Yes
Yes
Yes
Aspen Aerogels ($325M Capex, 250 Jobs)
Virginia has multiple cash grant programs. In counties boarding TN and NC, there is grant funding through the Tobacco Commission
Incentive: - Grant - 10-year property tax savings - Discounted project site - Infrastructure grant
Virginia
Yes
Generally, no
Yes
Manufacturing
Yes
1 Based upon investment structure
Proposal for Real Estate Services MITRA CHEM 19
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