Governmental Financial Incentives and Tax Credit Program
.
BIO has partnered with Bedford International to help member companies raise revenue via governmental financial incentives, tax savings and cost segregation services.
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 a unique network of 37 offices nationwide and established and knowledgeable representatives, Bedford has generated more than $2 billion in incentives and completed over 700 projects for its clients.
Examples of Governmental and Tax Incentives:
| State Tax Credits |
Grants and Abatements |
Infrastructure Improvements |
| Employee Hiring Credits |
Full or Partial |
Tax Increment Financing |
| Enterprise Zone Credits |
Abatement of Taxes |
Community Development Block Grants |
| Investment Tax Credits |
Free or Reduced Cost Land |
Industrial Development Bonds |
| Pollution Control Credits |
Sales and Use Tax Exemptions |
Infrastructure and Economic Development Bank |
| Renewal Zone Credits |
Sales Tax Sharing Agreements |
Sewer and Water Improvements |
| Training and Retraining Credits |
Grants to Offset Building or Relocation Costs |
Transportation Grants |
| |
Federal Empowerment Zone |
|
Cost Segregation
If your company owns commercial property, Bedford can conduct a study to identify potential tax savings based on cash flow improvement strategies that may result in generating a significant amount of revenue. Applying a cash flow improvement strategy called engineering based cost segregation and asset acceleration, Bedford will determine which assets can be depreciated at an accelerated rate to defer tax payments and ultimately improve cash flow by maximizing the time value of money.
Examples of Cost Segregation Strategies:
Asset Relocation
Allows commercial property owners to accelerate property depreciation by reallocating 25-45% of the property to 5, 7 & 15 year property terms to maximize short term tax benefits.
Fixed Asset Management
Conducts an analysis of a company's existing fixed asset system and assign appropriate tax lives to all new assets placed into service to maintain the maximum allowable tax deductions.
Asset Retirement
Identifies assets that qualify for immediate expensing, following demolition or renovation.
Property Tax Reclassification
Reduces property taxes by identifying assets that are not relevant to a company or are no longer in service and should not be taxed.
Member Benefits
Governmental Financial and Tax Incentives 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:
- Experienced team that will work with your CPA to improve your company's cash flow
Eligible Affiliates
In addition to members of BIO, members of the following state and regional biotech associations can take advantage of this program:
More Information
For more information about the BIO Program, contact Daniel Wing of Bedford International/GAIN Services at 520.407.6510 or by email at
dwing@bedfordint.com. To learn more about Bedford International/GAIN Services, visit
www.bedfordint.com.