Location Management Services
Description
BayBio has partnered with Bedford International to help member companies benefit from governmental incentives and accelerated depreciation services.
Governmental Incentives
Bedford will assist member companies with the identification, negotiation and implementation of various governmental financial incentives and tax credits applicable to biotech companies. Using a proprietary database system, Bedford will conduct an analysis of the available financial incentives and tax credits on a prospective or retroactive basis for each member company's facility or location and propose strategies for negotiating, collecting, monitoring and the ongoing documentation of the entire incentive process. With our established and knowledgeable incentives experts, Bedford has generated more than $2 billion in incentives and completed over 700 projects for its clients.
Examples of Governmental Incentives:
| State Tax Credits |
Grants and Abatements |
Infrastructure Improvements |
Employee Hiring Credits
Enterprise Zone Credits
Investment Tax Credits
Pollution Control Credits
Renewal Zone Credits
Training and Retraining Credits |
Full or Partial
Abatement of Taxes
Free or Reduced Cost Land
Sales and Use Tax Exemptions
Sales Tax Sharing Agreements
Grants to Offset Building or Relocation Costs
Federal Empowerment Zone |
Tax Increment Financing
Community Development Block Grants
Industrial Development Bonds
Infrastructure and Economic Development Bank
Sewer and Water Improvements
Transportation Grants |
Tax Strategies... Cost Segregation:
If your company owns commercial property or has made tenant improvements to leased properties, Bedford can conduct a study to identify potential tax savings. Applying a cash flow improvement strategy called engineering based cost segregation, Bedford will determine which assets can be depreciated at an accelerated rate to defer Federal & State tax payments and ultimately improve cash flow. Typically the studies will reallocate 25-45% of the property to 5-yr, 7-yr & 15-year depreciable lives.
Member Benefits:
Governmental Incentive Benefits:
- No upfront fee for incentive analysis and negotiation; the service is provided on a contingency fee basis of 15% over the life of the governmental incentives actually collected
- Incentive eligibility review as far back as seven years
- Incentive analysis of multiple facilities or locations of each member company
Cost Segregation Benefits:
- Bedford will provide an estimate of potential cash benefits – at no charge. Typically, the tax benefit will amount to between 5 – 7% of the cost basis of the assets (physical plant or tenant improvements).
Grants and Abatements:
To discuss your company's situation and possible benefit, please contact Bedford and identify yourself as a BayBio member. Contact Daniel Wing at 877-623-2684 or visit their webpage www.bedfordint.com
