Tax Credits and Incentives

Many states are eager to retain businesses and attract new employers. However, most businesses need more specialized knowledge and resources to identify and take advantage of all the available credits and incentives.

Haynie & Company can help your company discover the full range of opportunities. We have helped clients apply for and obtain millions of dollars in incentives.

States are eager to attract employers that create jobs and invest in capital. Your company has many tax credits and tax incentives to explore.

If any of these scenarios apply to your business, a wide range of state tax credits, abatements, exemptions, and other financial assistance are available to you, and these incentives can significantly reduce startup and transition costs.

Our Approach to Tax Credits

Haynie & Company assists with site selection and multi-bid cost comparisons to procure specific non-statutory, discretionary tax credits and negotiated tax incentives. These can be applied retroactively, as needed, for statutory incentives that might have been overlooked. 

Our services are flexible and can assist companies in various phases. For the best results, contact Haynie & Company early in the planning process. Many state incentives can be obtained only before relocation and expansion decisions have been finalized.

Common Tax Credits and Incentives

Some of the most common tax credits and incentives available to businesses include:

• Research and Development (R&D) Tax Credits: For companies engaged in research and development activities.
• Job Creation Tax Credits: Incentives for businesses that create new jobs or expand their workforce.
• Investment Tax Credits: Rewards for investing in capital projects, such as new equipment or facilities.
• Training Tax Credits: Incentives for businesses that invest in employee training and development.
• Energy Efficiency Tax Credits: Rewards for implementing energy-saving measures.
• Enterprise Zone Tax Credits: Benefits for businesses located in designated economic development zones.
• Property Tax Abatements: Reductions in property taxes for qualifying businesses.

Case Study: Oil Field Service Manufacturer Obtains Millions in Incentives

To illustrate our expertise in securing tax credits and incentives, let’s consider the case of an oil field service manufacturer with operations in multiple locations. The company was seeking ways to consolidate its operations and reduce costs while remaining competitive in the industry.

Haynie & Company identified state and local incentive programs that offered financial rewards for increasing employment, investing in capital and training, and consolidating operations. We worked closely with the manufacturer to navigate the application processes in multiple jurisdictions, ultimately securing a total of $17.9 million in incentives from one location and $3.6 million from another.

These significant incentives played a crucial role in the manufacturer’s decision to consolidate operations from two plants. By leveraging the financial benefits provided by the incentives, the company improved its overall efficiency, reduced costs, and enhanced profitability.

Ready to unlock the potential of tax credits and incentives for your business? Reach out to Haynie & Company today to schedule a consultation and learn how our expertise can help you obtain the tax credits and incentives you deserve.