Economic Incentives

Representing local governments, economic development agencies, companies and developers, we help our clients’ structure and negotiate economic incentives to spur business development and growth across Tennessee.

We offer deep experience in the creation, administration and implementation of payment in lieu of tax abatement (PILOT) programs and tax increment financing (TIF) programs, as well as the structuring and execution of sales tax increment financings and special assessment bond financings. Having been heavily involved in the drafting of legislation regarding the use of TIFs by industrial development boards and housing and redevelopment authorities, we bring unique insight and substantial knowledge of how to leverage incentives for the maximum long-term economic impact.

Our team is involved in incentive projects ranging from a few million dollars for infrastructure improvements relative to new retail developments to hundreds of millions of dollars for convention centers and sports facilities in major cities. Representing local governments as well as companies and developers in these transactions, we bring a comprehensive perspective to all aspects of economic incentives transactions as a result of representing clients on all sides of the table.

Beyond deal work, our attorneys are actively involved in helping to educate state and local officials across Tennessee on the use of economic incentives — volunteering their time to speak at multiple economic development programs each year and authoring publications on the topic.

Opportunity Zones

Among the many wide-ranging tax reforms established by the 2017 Tax Cuts and Jobs Act was a program geared to stimulate new business and development in economically distressed communities by incentivizing long-term investment in low-income areas. This program allows for the re-investment of prior capital gains into low-income communities designated as Qualified Opportunity Zones through investments in Qualified Opportunity Funds (QOFs) with the incentives of deferred and reduced taxation on invested gains until 2027, as well as no tax on gains from selling QOF investments held for at least 10 years.

Our cross-disciplinary team of real estate, tax and corporate attorneys are positioned to help investors, developers and fund managers determine the right approach to take tactical advantage of this program, optimize tax benefits, and comply with legal requirements. From structuring long-term real estate and business investments, to fund formation, to pairing this new tax benefit with other economic development incentives, our team is able to help clients realize the full benefits of the Opportunity Zones program.

B. Taylor Gray
Counsel
Robert C. Guth
Senior Tax Attorney
Cheyne W. Harris
Associate
G. Mark Mamantov
Member
Russell A. Miller
Member
James Polk Moneyhun, Jr.
Associate
Jordana Katz Nelson
Senior Public Finance Attorney
Jeffrey A. Oldham
Member
Michael S. Peek
Member
Alexandrea R. Samber
Associate
Richard R. Spore, III
Member
Justin T. Starling
Member
T. Gaillard Uhlhorn, V
Member