Incentive Compliance Assistance Practice

Hicks Partners’ Incentive Compliance Assistance Practice (I-CAP) helps companies complete economic development incentive transactions and maintain compliance with state and local incentive regulations.

According to the Ohio Department of Development, companies which have received incentives have an 80% error rate in reports and other compliance matters.  Compliance errors mean incentives may be jeopardized, under-utilized or the receiving company has to devote additional time and resources to fix compliance problems.  Hicks Partners’ I-CAP will assist companies complete and maintain incentives, helping them save time, money and maximize their business incentives.

Why use Hicks Partners Incentive Compliance Assistance Practice (I-CAP)

  • Strategic consulting to effectively finalize, maintain and comply with incentive programs
  • Organized approach to streamline the process
  • Coordinate efforts of Legal Counsel, Payroll, Finance, Project Managers, and Human Resources
  • Utilize an existing, proven relationship and experience with the Ohio Department of Development
  • Reduce errors, save time and money, maximize incentives

What We Offer

  • Review all documents, contracts, and term sheets to ensure accuracy and alignment with your business goals
  • Assist in finalizing incentives, including local incentives, to ensure each agency has the proper documentation
  • Provide guidance through Department of Taxation and EPA clearances
  • Obtain, review and ensure timely execution of Incentive Agreements
  • Advise on tracking compliance requirements (i.e. new jobs, wages, investment, income tax increase, etc)
  • Provide consulting, assistance and trouble-shooting with compliance and reporting matters
  • Written step-by-step instructions for each incentive program
  • Serve as intermediary between the company and economic development agencies
  • Ensure your company actually receives the benefits as promised

What You Receive

Hicks Partners will create a tailored I-CAP Took Kit which contains everything a company needs to effectively and efficiently utilize business incentives, including:

  • Customized manual with step-by-step instructions for finalizing and maintaining each incentive
  • Interactive worksheets and forms to track required incentives
  • A CD and hard copy file containing all critical documents and forms
  • Experienced professionals to consult on all matters, big and small, related to incentives
  • I-CAP Watchman Service with a Master Calendar and notification service for impending deadlines

What You Avoid

  • Losing some or all of the benefits by not finalizing the incentives
  • Wasting time and money through compliance reporting errors and omissions
  • Spending time managing the incentive process instead of other pressing responsibilities
  • Losing momentum and money as your staff struggle to figure out what they need to do with these incentive contracts
  • Penalties and repayments due to non-compliance