Marty D. Reid
Sandy Springs, GA
January 2016 – Present: - JMS Incentives & Tax Benefits Services, LLC
In partnership with JMS Advisory Group, LLC, formed JMS Incentives & Tax Benefits Services (“JMS-ITB”) during January of 2016, providing consulting services for clients ranging from Fortune 500 to large privately-held companies. Services include site-selection, industrial revenue bond financing, new market tax credits, statutory and negotiated credits and incentives. JMS-ITB brings creative solutions to complex economic development fact patterns which often incorporates legislative initiatives, negotiated alternative tax blueprints and other various forms of public-private partnerships.
May 2012 – December 2015: - Walton Management Services, Inc.
Managed the Incentive Consulting Services Division comprising five peop le and with a national focus on both statutory and negotiated incentives. Primarily focused on industrial revenue bond financing, manufacturing expansions and working with existing activities and operations of existing clients. Effectively teamed with the sales team to collaborate and increase the client base as well as secure new engagements utilizing the sales organization.
January 2011 – May 2012 – PriceWaterhouseCoopers, LLP, Director
Responsible for managing southeast area client needs in the area of state and local tax credits and negotiated incentives. Worked with clients in the manufacturing, distribution, technology, and automotive industries managing incentives negotiation as well as tax credit implementation projects. Consulting with Fortune 500 companies in the areas of property tax abatements, industrial revenue bonds, state tax credits, infrastructure grants and other negotiated incentive programs. Work with the national team to coordinate a variety of service offerings including new market tax credits, WOTC and other federal tax credit programs.
April, 2008 – January 2011 - Duff & Phelps LLC, Director
Managed and led the southeast area incentives and credits practice as a Director, with responsibilities for sales, marketing, client relationship management, negotiation and implementation of economic development incentive packages. Recently, our team successfully negotiated one of the largest project announcements in the State of Georgia in 2010, resulting in an announcement by the Governor of a $55 million capital investment with up to 500 additional jobs. Managed and led negotiations for various projects in the southeastern United States, as well as projects outside the southeast, including but not limited to Oregon, California, and Pennsylvania, among others. Negotiations include alternative apportionment agreements, industrial revenue bond financing/property tax abatements, creative negotiations with state revenue departments with regard to state income tax credits, negotiation of free land, training, cash grants and other negotiated business and tax and non-tax incentives. Managed the implementation of state and local tax credits, taxable and tax exempt industrial revenue bond financing, property tax abatements, state training programs, and other related, economic development incentives. Successfully negotiated the first ever Quick Action Closing Fund grant in the State of Florida for an energy sustainability project with new capital investment and the retention of existing jobs.
2006 – 2008 KPMG LLP, Senior Manager
Senior Manager with responsibilities for sales and management of the southeast area credits and incentives practice. While at KPMG, led negotiations for a natural gas pipeline company, resulting in property tax abatements over a ten year period, with an estimated value of over $15 million. Managed and consulted on a variety of negotiated incentive projects, including the expansion of a manufacturing facility on behalf of a Fortune 500 company, resulting in property tax abatement, job tax credit implementation and ports tax credit implementation. Managed and led negotiations to locate a distribution center project for a Fortune 100 apparel company in Alabama, securing cash grants of over $ 1.5 million, property tax abatement, sales and use tax abatement, and investment tax credit. Assisted with and participated in the announcement of the project with the Governor of Alabama, and with local community leaders.
2003 – 2004 Barnwell & Company, Independent Consultant
Worked with a Fortune 100 Communications Company to secure $1.2 Billion of industrial revenue bond financing with the Development Authority of Fulton County, resulting in property tax abatements, with estimated above the line savings of over $15 million. Managed and negotiated a $100 million industrial revenue bond financing for the Development Authority of Fulton County to induce a Fortune 100 company. Worked with and managed various project implementations for firm clients, including but not limited to, property tax abatement, bond financing, credit reviews and other negotiated incentives.
1996 -2003 Ernst & Young LLP, Senior, Manager, Senior Manager, Principal
Initiated and served as the Southeast Area Leader for the Business and Tax Incentive Services practice, for Ernst & Young LLP. Developed and started the practice as a first year senior in 1996 with the support of the State and Local Tax partner in charge. Led and developed the practice for eight years growing from a two person practice to thirteen professionals with over $ 8 million in annual revenues.
Assisted and consulted with Fortune 500 clients, focusing on state tax credits and incentives, industrial revenue bond financing, property tax abatements, among other various and sundry negotiated incentives, such as cash grants, REBA grants, alternative apportionments and training grants. Worked with clients in the transportation, communications, manufacturing, aerospace, distribution and entertainment industries, delivering significant tax savings opportunities.
Managed and assisted with the negotiation of new legislation on behalf of clients in the states of Georgia, North Carolina and Alabama. Managed and assisted with the enactment of new credits, and exemptions to create an incentive package for the inducement of new jobs and capital investment, resulting in the relocation of a corporate headquarters. This includes the negotiation of the legislation to enact the North Carolina wage withholding grant, the “JDIG”, as well as the Article “3J” program, the Georgia sales tax exemption for hi-tech purchases of tangible personal property, and retroactive property tax abatements in the state of Alabama.
Developed two new products while at Ernst & Young LLP. Reverse cost segregation is a national property tax product focusing on new development s with a aggregate capital outlays in excess of $ 100,000,000. This product was developed in the southeast area practice and became a national product offering. Also led and co-developed the IRC section 118 “non-shareholder contributions of capital” product in the southeast area which also was subsequently developed as a national product offering.
Worked with and consulted for government clients including Governor Roy Barnes of Georgia, Secretary of Commerce James T. Fein of North Carolina, and the Clayton County Development Authority, on a variety of incentive, property tax and legislative initiatives. Also led negotiations resulting in policy changes from a policy perspective, specifically negotiating the first property tax abatements ever offered in Cobb County, Georgia, Henry County Georgia, and Wake County, North Carolina.
Authored the Commerce Clearing house (CCH) Tax Guide for Business Incentives. Authored the North Carolina, South Carolina, Georgia and Florida multi-state incentives guide. CCH is a leading provider of tax and business law information and has built a reputation for editorial excellence and authoritative products.
Working with various clients, negotiated over $3 billion of industrial revenue bond financing with the Development Authority of Fulton County, Georgia, resulting in property tax savings of over $100 million dollars for Fortune 500 clients.
1993-1996 Clayton County Board of Commissioners -
Working in conjunction with the Clayton County Tax Assessors and the Office of Economic Development, led and managed economic development project negotiations for new and expanding industry. Developed gap analysis for the Board of Commissioners, including tax credit realization and effective tax rate comparison analysis with competing jurisdictions, and made recommendations to the Economic Development Authority with regard to tax incentives for particular projects. Represented the Office of Economic Development, negotiating property tax abatement agreements, Payment In Lieu of Tax agreements and alternative, negotiated methodologies of assessment for both real and personal property tax, successfully inducing companies to locate and/or expand operations in Clayton County. Led and managed a personal property tax audit program in coordination with the Board of Tax Assessors, auditing property tax renditions, industrial revenue bond/property tax abatement agreements for retention and/or new job creation. Worked with and assisted Clayton County business with the filing of Georgia income tax credits, the implementation of taxable and non-taxable industrial revenue bonds, expedited permitting and various other incentive programs necessary to induce companies into Clayton County. Instructor for the Georgia Department of Revenue teaching courses in personal property tax auditing, valuation and assessment. Part time instructor for the county assessor certification courses, in conjunction with the Georgia Department of Revenue and the University of Georgia’s continuing education department.
1991-1993 Fiduciary Tax Accountant, SunTrust Bank
Responsible for managing trust and estate accounts including preparing tax returns,
Income projections, pro forma tax projections, as well as other administrative duties.
1993-1995, Master of Taxation, Georgia State University, Atlanta, GA
1990-1993 Bachelor of Business Administration, Accounting, Clayton State College and University, Morrow, GA
1988-1990 Associate of Arts, Education, Emmanuel College, Franklin Springs, GA
Past and Current Affiliations:
Governors Roundtable, Georgia
Georgia Association of Assessing Officials (GAAO)
Government Relations Committee, Turner Broadcasting System, Inc.
American Institute of Certified Public Accountants (AICPA), Lecturer
Kiwanis International, Forest Park, Georgia
Youth Empowerment Project, Clayton County, Board Member
Rainbow House, Clayton County, Board Member
Atlanta Symphony Orchestra, Finance Committee
Adjunct Professor of Accounting, Clayton State College & University