BLS & Co. was engaged by Kuehne + Nagel, a global transport and logistics company, to provide site selection services for a planned new operation and training facility.  After a nationwide search, Kuehne + Nagel decided to locate its first-ever Operational Care Center (OCC) and Career Development Program in downtown Detroit.  The office will employ nearly 200 people by 2021.

Eby-Brown engaged BLS & Co. to provide incentives advisory services for a new distribution center/warehouse facility to service customers in the Midwest and Mid-South regions of the United States.

The company short-listed locations in Kentucky and Indiana, and BLS & Co. secured competitive incentive offers for locations in both states. The company selected a location in Shepherdsville, KY to construct a 300,000 SF build-to-suit lease-back facility. 

BLS & Co. secured an incentives package for Eby-Brown, a wholesale distributor for the convenience store industry. The company engaged BLS & Co. to provide incentives advisory services for a potential relocation to Indiana or Tennessee from its awkward, outdated layout in Naperville, IL. The company ultimately elected to remain in the Chicago area, securing a new, state-of-the-art space in Naperville.

BLS & Co. advised New York Life on the relocation of approximately 1,000 employees from the company’s Manhattan headquarters location to a new facility in Westchester, New York.

BLS & Co. was successful in securing an economic development incentive package that included a PILOT (Payment in Lieu of Taxes), sales tax exemptions on construction materials and FF&E purchases, a state capital grant and a discount of the utility bills.

TradePoint Atlantic (TPA) – previously Sparrows Point Terminal – is a former 3,200 acre Bethlehem Steel plant site located in southeastern Baltimore County, Maryland.  TPA purchased the brownfield site in the fall of 2014 with plans to redevelop it into a major East Coast multi-modal distribution and manufacturing hub.

BLS & Co. was engaged to develop a comprehensive strategy to secure the public financing sources needed to mitigate the significant cost of repositioning a brownfields site of this scale and complexity.  Our services included:

• Benchmark analysis of the location’s incentives competitiveness versus similar competitive locations in seven other states;
• Management of a multi-firm team responsible for identifying and prioritizing available federal, state and local grant, incentives and financing programs to allow the developer to pursue environmental remediation and infrastructure improvements beyond what would otherwise be possible given market-based ROI targets;
• Development and execution of an overall strategy to design new incentives tools to improve the competitiveness of the site for potential tenants; and
• Development of a strategy for pursuit of public site development/remediation financing.

The competitive benchmarking analysis revealed an opportunity to improve the cost competitiveness of the site via the introduction of a targeted sales and use tax exemption for specified construction materials and warehousing equipment.  BLS & Co. served as “subject matter expert” to assist TPA in pursuit of the required legislation by documenting the competitive market-based rationale for the proposed exemption, providing data on similar programs in other locations, drafting proposed legislation and providing expert testimony during Senate and House hearings on the proposed legislation.  On May 19, 2016, Maryland Governor Larry Hogan signed the enabling legislation.

BLS & Co. provided incentives advisory services for SKF USA Inc.’s new Global Technical Center – Americas (GTCA), an engineering research and development center supporting SKF’s North and South American manufacturing operations. Naperville, IL -- a suburb of Chicago – was chosen for the 130,000 square foot build-to-suit facility.

BLS & Co. was engaged to advise Burlington Coat Factory (BCF) as part of a competitive location decision-making process for the location of the company’s headquarters. BCF considered locations within New Jersey and Pennsylvania.

BLS & Co. secured an incentive package from the State of New Jersey consisting of Grow NJ tax credits and an exemption from sales tax on construction materials and equipment purchases.

When Roche required assistance to fast-track a decision on the location of its new Translational Clinical Research Center (TCRC), the company engaged BLS & Co. to secure incentives in support of this elite research early development organization. After a thorough site selection process, the company chose the build-to-suit Alexandria Center on Manhattan’s east side for its new facility.

BLS & Co.  served as incentives advisor during the relocation of the headquarters of CPG International from Skokie, Illinois (part of the Chicago MSA). Complicating the move was the need to move the C-Suite to the new location in advance of the rest of the headquarters staff, necessitating the potential for staged growth, potentially in multiple locations. Other locations considered included downtown Chicago and Cincinnati, OH.

BLS & Co. secured an incentives package for AeroFarms for its headquarters and R&D operation on a three-acre site in Newark, NJ, developed by the RBH Group.  AeroFarms is the largest indoor aeroponic farm in the world, growing up to two million pounds per year of leafy greens in a safe, sanitary and environmentally controlled facility.

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Since our first project with Eli Lilly and Company (“Lilly”) in 2008, BLS & Co. has served as strategic advisor on multiple site selection and incentives advisory projects throughout the company’s real estate portfolio, involving over $8 billion in planned investment and 3,000 in announced new positions.

Project Highlights

• Lebanon, Indiana (API & Gene Therapy Manufacturing)
• Research Triangle Park, North Carolina (Injectables Manufacturing)
• Concord, North Carolina (Injectables Manufacturing)
• Boston, Massachusetts (R&D)
• Limerick, Ireland (Biologics API Manufacturing)

BLS & Co. worked with Depository Trust & Clearing Corporation (DTCC) on two projects: a New Jersey-based incentives advisory and a Florida-based site selection.

BLS & Co. developed and executed the incentives strategy to facilitate the Depository Trust & Clearing Corporation’s (DTCC) move from Lower Manhattan to Jersey City, New Jersey. DTCC’s migration and ongoing operations in New Jersey were financed, in part, by the EDA’s Business Employment Incentive Program (BEIP).  DTCC also became the first beneficiary of the Economic Redevelopment and Growth (ERG) Grant program.

In 2002, the “Fed White Paper” challenged the financial industry to make the investments required to assure continuity and liquidity in capital markets. For the Depository Trust and Clearing Corporation (DTCC), this challenge gave rise to an intensive confidential site search that scrutinized multiple markets over six months. The search ultimately concluded in Tampa, where the collaboration of state, county and city commitments made a material difference in off-setting project costs.

The approved incentives included the Governor’s Closing Fund and new city and county programs created for this project. BLS & Co. also advised the client on integration and restructuring of its pre-existing incentives agreement in NYC into its overall redeployment and diversification of operations to Florida.

BLS & Co. developed and executed an incentives strategy to induce the company to consolidate Royal Bank of Scotland's North American corporate bank, based in NYC, and its RBS/Greenwich Capital headquarters in a new office and trading floor in Stamford, CT. The package consists of transferable corporate income tax credits and other incentives in connection with the proposed retention and creation of approximately 1,800 jobs. The scale of this package required legislative hearings and consent.

BLS & Co. represented Diageo during their new headquarters location decision-making process. Their 270,000 square foot building in Norwalk, CT represented the very first project approved under the State's new Urban Reinvestment Act program and resulted in a reward of transferable tax credits, as well as sales tax exemptions and property tax abatements.

BLS & Co. served as financial advisor for a groundbreaking cooperative venture between the H. Lee Moffitt Cancer Center in Tampa and Merck to secure public financing to create over 300,000 square feet of life-sciences oriented development on a 25-acre site.

Moffitt created a wholly owned subsidiary called M2Gen to implement the project, which began with the construction of a 50,000 square foot facility that will house labs and related facilities focused on revolutionizing the way cancer is diagnosed and treated.

BLS & Co. conceptualized the incentives package for the project and managed the analysis, negotiations, structuring, approvals and documentation of the public financing. The public financing package constituted more than one-fourth the total project capitalization.

BLS & Co. and its principals have provided ongoing site selection and incentives advisory services to QVC, including warehouse and call center location projects in North America and Europe. Our most recent engagement for QVC resulted in a 1 million square foot distribution center (expandable to 2 million square feet) in Florence, South Carolina.

BLS & Co. managed a multi-state, sequential site search, and secured incentives for the project, including free land, infrastructure grants, ad valorem tax abatements, job development grants, job tax credits, and sales tax exemptions.

In addition, BLS expedited permitting and as a result, the warehouse was able to open ahead of schedule.