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Negotiated Incentive Agreements during COVID-19

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Businesses receiving negotiated or discretionary economic incentives (tax abatements, cash grants, land grants, etc) in exchange for a minimum investment and jobs in a community could be at risk of losing these incentives due to the economic downturn caused by COVID. We are seeing that some state and economic development authorities are sympathetic to businesses in this situation and are willing to be flexible on amending agreements. If your business is under an agreement to meet investment milestones for economic incentives, we recommend open communications with the state or local jurisdiction about how COVID has impacted your plans. If you would like us to assist you or your legal advisor in these discussions, please reach out to your Rödl & Partner representative.

 

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