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business relocation

Making the decision to sell, buy, or lease real estate is daunting enough when considering a change of location for your home. But thinking about relocating your business probably fills you with dread. Workforce is a top reason for relocation, but other reasons include reaching a new market, upgrading facilities or equipment, decreasing costs or increasing revenue, and others.

So how do you ensure that you’re making the best decision on when choosing a new spot for your business? Regardless of your company’s size , it is a wise idea to consult a Location Advisor before making any decisions about migrating your business.

Location Advisors track your location-based expenses and benefits in order to help you understand your options among specific locations, municipalities, and states and determine the optimal location for your workforce and customers. Teaming up with an advisor is an advantage to your business in more ways than one. You not only receive advice on where you should relocate in order to maximize potential economic gain, but also receive guidance in how to relocate in order to receive economic incentives from local and state governments.

Economic incentives are monetary gains can take the form of tax-credits or grants, and are awarded to companies by the government in order to encourage economic growth. In September 2019, the Resource Incentives and Location Advisors Team secured $2,110,000 in incentives for a global company that was looking for an expansion site as well as a larger talent pool.

Taking advantage of the resources and advice offered by Location Advisors allows your business relocation to flourish. As you enter 2020, consider how you can best leverage your company’s successes in 2019 to maximize business growth for the upcoming decade!

BraunAbility Growth Incentives

CHALLENGE

BraunAbility is the global leader of mobility, manufacturing wheelchair vans, SUV’s, and wheelchair lifts. The company has grown from a modest small-town entrepreneurial venture with a handful of employees to a half-billion-dollar, global company with over 1,200 employees, serving more than 70 countries.

BraunAbility continues to plan for growth both domestically and globally. Through organic means as well as Merger and Acquisition, BraunAbility forecasts doubling its sales to $1 Billion by 2021. Such a rapid growth-trajectory means that the company has its hopes set on an international corporate headquarters beyond current headquarters in rural Winamac, IN, to provide better global accessibility and to access a larger talent pool.

BraunAbility plans on creating approximately 68 additional jobs over the next five years, bringing the total Indiana team to 968 members. Additionally, BraunAbility plans on investing approximately $8 Million in the new facility and equipment. In 2019, RESOURCE Incentives and Location Advisors were asked to perform a confidential study to determine the best location for its new headquarters.

STRATEGY

BraunAbility was considering Indiana, Illinois, or Michigan as potential sites for its new headquarters and asked RESOURCE to assist in examining the advantages and disadvantages of these areas. Resource led the incentives procurement process and worked closely with company executives to examine multiple expansion scenarios and costs.

The RESOURCE Incentives Team negotiated and procured economic incentives on BraunAbility’s behalf in support of the company’s HQ relocation and expansion. Through working with the city of Carmel and the Indiana Economic Development Corporation (state of Indiana), RESOURCE secured tax incentives to assist with the establishment of a new headquarters facility in Carmel, Indiana. RESOURCE also successfully negotiated and received a real and personal property tax abatement from the city of Carmel as well as payroll tax credits from the state of Indiana for the planned new facility. These incentives will assist with the establishment of a new facility and help the company grow by an additional 68 employees.

RESULTS

The RESOURCE Incentives Team worked with the City of Carmel and the Indiana Economic Development Corporation, to successfully negotiate a state and local incentive package of $1,300,000 in EDGE Payroll Tax Credits and $810,000 for a 10-year Tax Abatement, totaling $2,110,000.

Your business could be eligible for economic incentives. State and local incentives can provide significant savings for your business, big or small!

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