It’s hard to believe that it has been only four short years since the Site Selection & Economic Development Division of Parker Poe Consulting, LLC was created as a wholly-owned subsidiary of Parker Poe Adams & Bernstein, LLP. In observance of this milestone, we would like to take this opportunity to give our many friends and associates a brief update on our recent activities.
We have been truly rewarded to have the opportunity to work with many quality clients engaged in interesting and dynamic projects throughout North America. Some of our most recent clients include:
|GITI Tire North America
voestalpine Automotive Body Parts
Rack Room Shoes
ZF Group North America
Polydeck Screen Corporation
Our One-of-a-Kind Team Assists GITI Tire in Chester County
Drawing on the diverse experience of our legal colleagues at Parker Poe, we have been able to form a one-of-a-kind team that is particularly adept at anticipating issues before they arise, mitigating risk, and maximizing significant return on investment and sustained success for our diverse client base.
A specific example of this “team” approach is the assistance we recently provided to GITI Tire North America in siting their first US production facility in Richburg, South Carolina in Chester County. The company, the 10th largest tire producer in the world, plans to invest $560 million and create 1,700 new jobs over the next decade at the Chester site. Our collective work with GITI Tire involved reviewing, analyzing initial incentive offerings and subsequently negotiating a robust incentive package that maximized property tax abatements, various state and utility-company grants, various statutory and discretionary income tax credits and workforce training. Our partners at Parker Poe worked alongside us throughout the process, documenting the terms of the incentive package in MOUs and performance agreements. The legal team continues to assist GITI with all real estate matters, immigration matters, and other related legal issues.
Reflecting on the last four years, we’ve learned that the corporate site selection process is inextricably linked to the many legal issues that arise during the course of siting new business facilities. Our unique “team” approach to site selection – expert consultants coupled with seasoned attorneys – on project after project has created a synergy that guarantees our clients more efficient and cost-effective solutions to business location issues.
Let Us Know Your Feedback
This is the first of many informative updates we’re developing to keep you updated and abreast of hot-button issues related to site selection and economic development. We invite your feedback. Please share your comments and questions with us at Mark@ParkerPoeConsulting.com or call (803) 253-6847.