In the negotiation phase, due diligence should be near completion on the real estate and respective communities. When the decision is narrowed to at least 2 states, negotiations start to materialize into incentive offer letters. At the end of this phase, your company should have enough information to make an informed site selection decision.
Steps in Phase 3 - Negotiation
Things to remember:
- States compete against each other for business recruitment daily and offer a variety of incentives. Incentives are typically in the form of tax credits and grants.
- Local incentives normally are usually in the form of property tax incentives and grants to offset infrastructure costs.
- Training and recruitment assistance can also be offered at the state and local levels.
- When reviewing real estate, take into account the infrastructure requirements (utilities, environmental, roads, traffic signals, etc.) and the timing for permitting/zoning approvals.
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