MULTINATIONAL SEMICONDUCTOR COMPANY PRESERVES $100M IN ONE YEAR BY HIRING 3 EMPLOYEES
A multinational semiconductor company undergoing domestic expansion recently built a new fab in the U.S. Their savvy real estate department negotiated multiple business incentives for the new facility—including a property tax abatement worth $3 billion over 30 years. One contingent requirement for receiving this incentive mandated the creation of 400 new jobs in the first year. Nearing year end—unknown to the company’s tax department— the actual headcount was at 397, just shy of the required 400. Unlike the prior year, when the company lost $100 million in incentive benefits because of a lack of intra-departmental communication & collaboration, this year they used BIGcontrols to manage their incentives—specifically the Automatic Filing Reminder and Compliance Alert features—and were notified about the compliance issue that would’ve gone unnoticed otherwise.
Using BIGcontrols, the company was alerted and reminded with timely and actionable information resulting in accelerated hiring that boosted headcount above the requirement protecting over $100 million in incentive value that would have fallen through the cracks.