A Survey Published in Area Development Magazine Reveals Who is Really Cashing in on Incentives Programs - It's Not Who You Think!WESTBURY Westbury, residential village (1990 pop. 13,060), Nassau co., SE N.Y., on Long Island; settled 1650, inc. 1932. The State Univ. of New York's Westbury campus is located in the village. Harness races are held at Roosevelt Raceway there. , N.Y. -- Fortune 500 Financial Officers Reveal That They Rarely Collect Incentives - Despite the Fact That Incentive Packages Rank among the Top Reasons for Choosing a Location Today, Area Development Magazine, in partnership with Location Management Services, published a survey which reveals that Fortune 500 companies are not collecting the incentives offered to them by many states, counties and cities. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the survey, only 14 percent of the respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. were confident they were collecting all incentives available to them. In fact, the vast majority of Fortune 500 financial officers surveyed reported collecting less than $5 million in incentives in 2004. "Incentives are going unrealized, there is no doubt about that," said James James, person in the Bible James, in the Gospel of St. Luke, kinsman of St. Jude. The original does not specify the relationship. James, rivers, United States James. Renzas, president of Location Management Services. "Every year, corporate America America [for Amerigo Vespucci], the lands of the Western Hemisphere—North America, Central (or Middle) America, and South America. The world map published in 1507 by Martin Waldseemüller is the first known cartographic use of the name. leaves behind billions in unclaimed incentives. This is very ironic considering that surveys consistently demonstrate that state and local incentives are a major consideration when companies are choosing a new location." The U.S. media runs a plethora plethora /pleth·o·ra/ (pleth´ah-rah) 1. an excess of blood. 2. by extension, a red florid complexion.pletho´ric pleth·o·ra n. 1. of stories of activists decrying the use of incentives to attract business. Incentive programs are typically described as "corporate welfare" and therefore wasteful and unnecessary. According to the survey, fears of public coffers being drained by incentive deals are vastly overblown o·ver·blown v. Past participle of overblow. adj. 1. a. Done to excess; overdone: overblown decorations. b. . "States and cities continue to offer and negotiate large incentive packages in order to attract companies; however, the companies then fail to follow through on collecting the incentives," said Gerri Gambale, editor of Area Development. Other findings of the survey include: --Up to 88 percent of survey respondents think they are not getting their fair share of incentives. --Only 13 percent of survey respondents have a formal system in place for negotiating, managing and collecting incentives. --87 percent of survey respondents report that their system of negotiating, managing and collecting incentives needs improvement. --Only 37 percent of survey respondents plan to improve their incentive management and collection process. Complete survey results and accompanying story are available by clicking on http://www.areadevelopment.com/coverstory.html. Interviews with James Renzas can be arranged by calling Louis Louis, titular duke of Burgundy Louis, 1682–1712, titular duke of Burgundy; grandson of King Louis XIV of France. He became heir to the throne on the death (1711) of his father, Louis the Great Dauphin. Desmond at 951-371-4558. Gerri Gambale can be reached at gerri@areadevelopment.com. |
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