Federal, State, and Local Tax Credits and Economic Development Incentives ( C&I ) Presented by Pete Turner

Transcription

1 Federal, State, and Local Tax Credits and Economic Development Incentives ( C&I ) Presented by Pete Turner

2 About Our Presenter Pete Turner is an attorney who has worked in the tax consulting profession in Ohio since Pete leads Clark Schaefer Hackett s Credits and Incentives Practice and has been assisting clients secure federal and state tax credits and economic development incentives for over 12 years. He has extensive experience with income and franchise tax credits, cash grants, tax abatements, and public financing options.

3 Federal, State, and Local Tax Credits and Economic Development Incentives ( C&I ) Presented by Pete Turner

4 Types of Benefits Tax Credits (Refundable and Nonrefundable) Tax Abatements and Exemptions Cash Grants and Reimbursements Low Interest Loans Public Financing Infrastructure Support Non-Monetary Assistance

5 Primary Areas of Focus Job Creation and Retention Job Training Innovation Capital Investment Green Activities including Renewable, Sustainable, Alternative Energy ( RSA ), Conservation, and Pollution Control

6 Ohio s Job Creation and Retention Opportunities Ohio Job Creation Tax Credit Ohio Job Retention Tax Credit City/County Job Creation Tax Credits City/County Job Creation Grants

7 Ohio s Job Training Opportunities Ohio Incumbent Worker Training Grant Ohio Workforce Training Grant County/Community College Training Programs

8 Ohio s Innovation Opportunities Research and Development Tax Credit Research and Development Loan Fund Research and Development Sales Tax Exemption Technology Investment Tax Credit Third Frontier Program Innovation Ohio Loan Fund Regional 166 Direct Loan

9 Ohio s Capital Investment Opportunities Enterprise Zone Tax Credit Community Reinvestment Tax Abatement New Markets Tax Credit Historic Preservation Tax Credit InvestOhio Tax Credit Tax Increment Financing Multiple Grants and Low Interest Loans

10 Ohio s Green Opportunities Energy Loan Fund State Energy Program Grant Conversion Facilities Program Qualified Energy Project Tax Abatement

11 Ohio s Miscellaneous Opportunities Motion Picture Program Minority Owned Business Direct Loan Small Business Credit Initiative

12 Federal Opportunities and Synergies Research and Development Tax Credits Employment Tax Credits Green Tax Credits Historic Preservation Tax Credits New Markets Tax Credits Brownfield Programs

13 Key Questions and Data Points How does the company handle its C&I functions? What is the address of each location? How many employees are at each location? What training does the company provide to employees? Is the company involved in research, design, engineering, or process improvement activities?

14 Key Questions and Data Points (continued) Does the company use recycling equipment or recycled materials? Does the company utilize pollution control equipment? Has the company implemented energy efficiency improvements? Does the company utilize alternative fuels or alternative energy sources?

15 Key Questions and Data Points (continued) Over the last 3 years, has the company: Expanded business operations? Relocated business operations or employees? Constructed or moved into a new location? Renovated an existing location? Made a significant amount of capital expenditure? Hired 10 or more employees at a single location?

16 Key Questions and Data Points (continued) Over the next 3 years, does the company believe it may: Expand business operations? Relocate business operations or employees? Construct or move into a new location? Renovate an existing location? Make a significant amount of capital expenditure? Hire 10 or more employees at a single location?

17 Questions? Pete Turner Tax Principal (614)