||Pharmaceutical Research & Development
A pharmaceutical R&D firm in Missouri sought to expand its current location by renovating existing buildings and adding new equipment, which totaled an investment of over $40 million. In addition, the company planned to create several hundred new jobs.
CBIZ’s Tax Incentives Group worked with the firm to proactively develop a detailed spreadsheet of all investment expenditures, new job wages and benefits and the timeline to accomplish this project. We incorporated the information into an application for economic development incentives and presented it to the state economic development agency. Our team completed the application and assisted throughout the reimbursement process to ensure the pharmaceutical firm maximized its available benefits.
The state approved the pharmaceutical firm for financial benefits that both reduced its tax liability and provided a direct cash incentive, which totaled nearly $5.5 million in state incentives. CBIZ helped the company ensure that all requirements for the incentives were met and the benefits were distributed according to a defined, multi-year schedule.
Assistance in Obtaining Economic Development Incentives in Missouri
Discover how our start-to-finish approach helps you maximize all your state incentive offerings.
Download our case study
Copyright © 2017, CBIZ, Inc. All rights reserved. Contents of this publication may not be reproduced without the express written consent of CBIZ. This publication is distributed with the understanding that CBIZ is not rendering legal, accounting or other professional advice. The reader is advised to contact a tax professional prior to taking any action based upon this information. CBIZ assumes no liability whatsoever in connection with the use of this information and assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.
CBIZ MHM is the brand name for CBIZ MHM, LLC, a national professional services company providing tax, financial advisory and consulting services to individuals, tax-exempt organizations and a wide range of publicly-traded and privately-held companies. CBIZ MHM, LLC is a fully owned subsidiary of CBIZ, Inc. (NYSE: CBZ).