Corporate Real Estate Advisory Services Project Announcements
Nikola Motor Company Begins Site Selection Process
BDO Consulting's Corporate Real Estate Advisory Services
Practice is honored to lead Nikola's site selection team, helping it find a new home as it produces vehicles that will change transportation forever. Nikola, which designs and manufactures electric vehicles, vehicle components, energy storage systems, and electric vehicle drivetrains, successfully launched the Nikola One electric semi-truck on December 1, 2016. The Nikola One, the world's first hydrogen fuel-cell electric freight truck, is expected to be the most fuel efficient class 8 truck ever built.
Long-time Manufacturer Slant/Fin Stays on Long Island
Slant/Fin Corporation, one of the nation’s largest heating equipment and boiler manufacturers, recently announced it was expanding its global headquarters on Long Island. BDO’s Corporate Real Estate Advisory Services team advised Slant/Fin on a site selection strategy, helping the company to expand its manufacturing operations in Greenvale, New York and invest $3 million in new equipment.
BDO conducted an extensive multi-state location analysis, including labor rates, taxation, business incentives, logistics and shipping costs, as well as real estate costs and availability. We collaborated with many economic development partners on solutions to reduce operating costs, and negotiated a generous package of state and local business incentives.
The Nassau County Industrial Development Agency approved a 20-year payment in lieu of a tax agreement to reduce property taxes, and the Empire State Development provided a grant to purchase manufacturing equipment and refundable corporate income tax credits for Slant/Fin. In addition, the ReCharge New York Program allowed Slant/Fin to save on power costs.