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| Wes Bowen, Co-Founder and Senior Partner, Harvest Group LLC, a solution provider at the marcus evans Tax Officers Summit XIII 2012, on creating the most attractive tax incentive package for organizational expansion projects. |
NEW YORK, N.Y., May 10, 2012 - (ACN Newswire) - As part of an organization's planning for expansion, consolidation, movement of product lines, and/or greenfield opportunities, it is vital for tax officers to create a strategy for incentive negotiation that encompasses all disciplines within the organizations that are working together to complete a successful project, says Wes Bowen, Co-Founder and Senior Partner, Harvest Group LLC.
From a solution provider company at the marcus evans Tax Officers Summit XIII 2012, in Hollywood, Florida, May 17-19, Bowen discusses how to challenge your organization to maximize incentive opportunities that are available from a wide range of corporate activities.
- How can tax officers get the best possible incentive outcomes for their organization?
Before deploying any capital into your manufacturing footprint, it is critical to respect the dynamic financial impact a professionally negotiated incentives package can have on the ultimate profitability of the proposed project. Depending on the size of the opportunity, it is wise to introduce or re-introduce the corporate executives to the state and local governmental leadership from the Governor down to the local elected officials.
- Where is the greatest leverage within the negotiated incentive process?
Two components provide the greatest leverage in the incentive negotiation process, the desire for jobs in today's economy and the reality that corporations have choices as to where they do business. It is true that companies must do business somewhere; however, why should they do business in a non-business friendly jurisdiction when they have a choice? It really should be a focus on strategic corporate planning.
- What are the issues that can arise in the negotiating period?
There are several issues that can derail even the best incentive negotiation strategies. First, the unity of message, it is critical that there is a single message that is truthful, strategic, on-point and unified.
Timing is the second factor; the time to negotiate incentives is prior to any indication that a project is a certainty. This one should be obvious.
Lastly, knowledge; find an incentive partner who understands what is available better than the governmental representation that is negotiating with the company. This partner should put the agreements in place in a manner to protect you should your plans change in the future and be committed to completing at least the first year's compliance to ensure that the internal processes within your organization are created and well defined.
- Any final comments?
This is an opportunity for the tax executive to create a partnership with a provider who can add significant financial value to the most high profile projects within an organization. That exposure is wonderful for the tax department who so many times is the last to know within an organization. Now, not only are they the first to know, they are also driving the corporate strategy.
About the Tax Officers Summit XIII 2012
This unique forum will take place at The Westin Diplomat Resort & Spa, Hollywood, Florida, May 17-19, 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on confronting the endless challenge of how to cope with the evolving tax world, the pressure of staying up to date with pending legislation and best practices for running the tax function. For more information please send an email to info@marcusevanscy.com or visit the event website at www.taxofficerssummit.com/WesBowenInterview
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About Harvest Group LLC
Harvest Group LLC was founded in 2002 by Wes Bowen and Rudy Watkins. Bowen and Watkins use their extensive experience to maximize their clients' yield on investments and shareholder value through Tax Incentive Negotiations. The partners focus on economic development opportunities and nurturing client relationships. Those clients not only see their profits maximized, but also reap mutually beneficial relationships within the communities they operate. www.harvestgroupllc.com
Contact:
Stacey Melvin,
Journalist, marcus evans, Summits Division
Tel: + 357 22 849 400
Email: press@marcusevanscy.com
Topic: Research / Industry Report
Source: marcus evans Summits
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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