Fiscal Impact Model
Parker Poe Consulting offers a customized Fiscal Impact Model – a robust cost-benefit model allowing economic developers to measure the financial costs and benefits of new investment projects and corporate expansions, inclusive of local incentive offerings. The model utilizes county and state-specific data and is available for communities and economic development organizations to license on an annual basis. Utilizing our Fiscal Impact Model, economic developers and local leadership can make informed decisions regarding their level of incentive support for a project based on its expected financial returns. The Fiscal Impact Model is easy to understand, flexible, practical and provides communities with a defensible and data-driven analysis for local incentive decisions.
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In conjunction with our Fiscal Impact Model, Parker Poe Consulting developed a companion tool designed specifically to help local economic developers and communities model their incentive offerings. Counties may offer an incentive known as the Fee-in-Lieu of Tax (“FILOT”) to recruit new and expanding companies, effectively reducing property tax for a negotiated period. The Parker Poe Consulting FILOT Model offers easy to manipulate variables, built-in tax rates, and automated functionality illustrating the net financial impacts quickly and easily for all stakeholders.
Opportunity Zone Promotion
The Federal Tax Cuts and Jobs Act created “Opportunity Zones,” an incentive designed to encourage investment in economically distressed, low-income census tracts located throughout the United States. These qualifying census tracts are designated as Opportunity Zones.
When the Tax Cuts and Jobs Act was passed, more than $6.1 trillion in capital gains were held by investors. In response to requests from communities who were proactively seeking investment dollars within their Opportunity Zones, Parker Poe Consulting developed a service offering specifically to help communities develop tailored marketing tools to recruit new investments under this program.
Parker Poe Consulting's Opportunity Zone Promotion services often include a customized investment prospectus, promotional website and digital marketing campaign.
For additional information or to demo an Economic Development Tool, contact Parker Poe Consulting.