When it was suggested that I write this blog, I was a little intimidated as this is very new to me. I did some research to see if any other economic development incentive blogs exist. Since I couldn’t find one, I would like to introduction you to the wonderful world of economic development incentives. Now, before I get into the details, you are probably wondering what qualifies me to discuss these incentives.
So Here’s My Story:
For the past nine years, I had the awesome responsibility of analyzing companies’ compliance requirements for some of the State of Florida’s major economic development incentives programs, like Qualified Tax Industry (QTI), Quick Action Closing Fund (Closing Fund), Brownfield Redevelopment (BFR), Capital Investment Tax Credit (CITC), to name a few. I will discuss the individual programs in a later post. At the beginning, I had no clue what economic development incentives were and how they benefitted Florida businesses. However, after years of working with these programs, I developed the expertise needed to effectively guide businesses through the compliance process. Over the years, I have helped to verify compliance requirements for over 600 companies, resulting in confirmation of over 50,000 Florida jobs.
I realized though, that many businesses leave money on the table each year due to lack of proper documentation and failure to monitor their compliance goals throughout the year. I developed a passion for economic development and a desire to see companies succeed with these programs. To me, it is a waste for a business to go through the process of applying and negotiating an incentive award if it does not actively pursue the scheduled payments. As a result, I began Marlynn Consulting Group, LLC.
My purpose for developing this blog is to educate you about economic development incentives and how they can be beneficial to your business. The following are my goals for this blog:
· To introduce you to economic development incentives
· To educate you about available incentives
· To teach you about the incentive process
· To teach you about the compliance management process
· To provide you with tools to help you through the incentives process
· To assist you with maximizing your incentive payments
Again, I welcome you to my blog and hope that I can provide enough information for you to get the maximum benefit from economic development incentives.