Milestones and Incentives in the Site Selection Process
Monday, April 20, 2020
The Biggest Misperception About the Incentive Process
I think a lot of companies that aren't familiar with the incentive process come to us and have the misconception that they simply make some commitments, they sign a lease, shake the hand of the mayor, and receive a check. It's actually a much more complex process than that. It requires working with the municipalities for multiple years in order to show that you've met the commitments to receive the incentives that have been awarded based on the company's performance.
The Typical Incentive Disbursement Time Frame
After the contract is signed, it’s typically several years of reporting and updating the community on how you've met your commitments or are achieving them. And I think a common misconception is just that once the incentives are in the door, then the company just goes about their business and doesn't have to provide any kind of information or an update on how they've achieved those milestones