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Economic Development
Economic Development
The Economic Development Practice Group at Martin Tate is a multi-disciplinary group of attorneys licensed to
practice in Tennessee, Mississippi and Arkansas who
provide services in the business, tax, land planning,
environmental law, property law and employment law sections of
the Firm, but who come together regularly to work on new and
expanding business and industrial projects locating in Tennessee,
Mississippi and Arkansas. The Firm has taken such an approach in
this area of its practice for the past twenty-five years
and the attorneys who are currently members of this practice
group have worked on projects during that period of time that
have involved capital expenditures totaling in excess of three
billion dollars and involving the creation of
over twenty-five thousand jobs. Resulting tax savings
for the Firm’s clients, including several Fortune 100 and Global
100 Companies, have totaled in the hundreds of millions of
dollars.
In connection with projects handled in Tennessee, the Firm’s work
has often entailed significant reductions in property taxes for
both real and tangible personal property spanning many years,
through the various payment-in-lieu-of-tax (PILOT) programs that
are available. In addition to reducing property taxes, various
planning techniques have been utilized to significantly reduce
state franchise and excise taxes, as well as sales and use taxes.
In connection with projects handled in Mississippi, the Firm
represents companies locating or expanding operations within the
State in obtaining tax incentive packages through negotiations
with various state and local authorities. Mississippi counsel represent clients in economic development
matters before governmental authorities not only at
the State level, but also at the local level, including
representation of clients before
municipal and county boards, county tax assessors and local
industrial development boards. In addition, the Firm serves as a
liaison in obtaining industrial revenue bond financing and
provides assistance with related tax incentives for industrial
development projects in the State. Such incentives negotiated for
clients with operations throughout Mississippi involve the
Mississippi income, franchise, sales and use taxes, and county
and local ad valorem taxes. We also counsel clients on minimizing the
Mississippi contractors' tax, which is imposed on Mississippi
commercial construction projects.
Although economic development projects in west Tennessee and
north Mississippi, in years past, have outstripped those
which have taken place in eastern Arkansas, developers have now
turned their attention to eastern Arkansas and the Firm
anticipates that more projects will be forthcoming from this area.
Included among the Firm’s several Arkansas lawyers are also
lawyers who are members of the Firm’s Economic Development
Practice Group. |
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