Selecting the right location for your operations and understanding the total cost is a critical decision that can have far-reaching implications for your business. At our firm, we have the expertise and resources to guide you through every step of the market selection and incentives negotiation process, ensuring you find the perfect fit for your needs. From analyzing your project requirements to negotiating incentive packages, our comprehensive approach will help you establish a thriving, resilient presence. Trust us to provide tailored solutions that maximize your financial benefits and support your strategic goals.
Whether setting up an advanced manufacturing plant, opening a new retail store, establishing a US headquarters, or expanding a regional distribution network, choosing the right location for your business operations is crucial for long-term success. Businesses must evaluate a variety of factors—including economic conditions, demographic trends, regulatory environments, and logistical considerations—to determine the most advantageous location for their project’s specific requirements. Understanding the local market, workforce availability, real estate options, and potential government incentives is essential to making an informed decision that aligns with your strategic goals.
If the project is eligible for incentives, negotiations must generally occur before the company finalizes its location decision (e.g., building purchases, signing leases, public announcements, etc.). Incentives for large capital investment and job creation projects can often represent significant financial benefits, making it crucial to incorporate them into the strategic planning and budgeting process as early as possible. Securing these incentives can take time, and understanding the cost-benefit of pursuing them from the beginning is critical to ensuring they do not negatively impact the project timeline or risk being forfeited. Therefore, involving an experienced professional to manage this process and ensuring team alignment is essential.
Explore Other KNAV Advisory Practices
KNAV’s location advisory team provides comprehensive support to help you navigate these complexities. We offer a fully customizable approach tailored to meet your company’s specific needs, regardless of where you are in the site selection process. We can manage the entire process from start to finish or provide a combination of specific services as needed.
Our comprehensive offerings include:
Coordinated Implementation of Incentives
Before, during, and after the incentive negotiation process, we’ll work closely with and coordinate other company team members—including real estate, legal, tax, public relations, and government/economic development officials—to ensure everyone is on the same page. We manage the project to safeguard your incentives, ensuring that no actions are taken that could jeopardize the benefits secured for your project. At the same time, we ensure that the project timeline is met, compliance requirements are fully satisfied, and all aspects of your project stay on track.
Incentives Negotiation
KNAV’s credits and incentives specialists will negotiate on your behalf with government agencies and other entities to secure the most advantageous incentives for your location-based projects. To strengthen your negotiating position, we’ll gather data on industry benchmarks and comparable incentive packages from competing locations. Additionally, we’ll thoroughly review incentive agreements to ensure they align with your business goals and provide maximum value.
Comparative Market Analysis
A comparative market analysis (CMA) is your go-to tool for finding the perfect location to expand, relocate, or consolidate your business operations. By combining both hard data and expert insights on key priorities like state and local tax rates, industry-specific labor and real estate costs, workforce availability, infrastructure quality, and access to suppliers and customers, a CMA provides an objective ranking of U.S. markets tailored to your business needs. This targeted approach helps you make informed decisions, allowing you to focus on markets that best align with your goals—saving time and resources as you zero in on specific sites and incentives.
Identification of Incentives
We’ll identify incentives that might be applicable to your project, taking into account different locations and contingent scenarios, such as fluctuations in workforce size, changes in project timelines, or shifts in capital investment levels. Our analysis will not only quantify these potential incentives but also help differentiate markets even further. Additionally, we’ll guide you through the complexities and timing involved in securing these incentives, ensuring you’re fully informed and positioned to maximize opportunities.
Needs Assessment
Our location advisory team will work closely with key members of your team, including management, to thoroughly understand the proposed project’s requirements. Together, we’ll identify the most critical factors and help assign them a ranking of importance, ensuring a clear set of criteria and priorities to guide the site selection process.
Incentives Compliance
Once your company has completed negotiations, signed agreements, and fully committed to the chosen location, we’ll guide you through the compliance requirements associated with those incentives. We can assist in designing an internal process for compliance, review required filings to ensure you maximize the benefits, or manage the entire compliance process for you. Our ongoing incentive compliance services ensure you maintain eligibility and fully optimize the benefits secured for your project.
