Attorneys & Professionals
Vorys attorneys Scott Ziance and Sean Byrne co-authored an article titled "How to Use Incentives Wisely" for NAIOP's Spring 2021 Development magazine. The article focused on a four-pronged approach to state and local economic development incentives which can help draw tenants and boost profits.
The article states:
"State and local economic development incentives can help attract and keep tenants and increase investment returns. It’s important to keep the focus on four key principles: reducing occupancy costs; facilitating an efficient financing structure; creating a win-win arrangement with the community; and preserving disposition optionality.
Incentives can increase the rate of return by reducing costs or increasing revenue. There also are benefits to thinking broadly about return on investment. By developing a positive relationship with the community, the economic development supported by the community likewise benefits the investment. Using state and local incentives thoughtfully can lower costs and increase values when it comes time to sell."
Read the entire article here.