State taxes and how they affect building strategy

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Chris Knueven

It’s Basic Econ 101: The lower the cost of doing business, the more competitive a state can be in attracting and retaining businesses. The Washington, D.C.-based Tax Foundation, the nation’s leading independent tax policy research organization, recently undertook an expansive study exploring all facets of taxes as they relate to business location decisions. Their report, “Location Matters: The State Tax Costs of Doing Business,” delves into what taxes companies actually pay, their cost throughout the lifespan of a business and how they stack up state to state for various industries.

Taxes will have a significant impact on your net operating margins, and, as the report lays out: All tax structures involve tradeoffs and affect different industries differently. How taxes will affect your business now and in the future will be critical considerations as you formulate your company’s building plan. Where should you locate? Should you build new? Build-To-Suit For Lease? Renovate? How do you value tax abatements over their lifetime? Will there be investment tax credits available for your project?

Miller-Valentine has more than 50 years experience in the building industry—constructing in states across the country. Our team of tax experts understands these options and is here to help you develop the best approach to your real estate investment, one that fits your company’s unique needs and offers the best tax strategy to ensure you a financially successful project—now and in the long term.

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Construction under way on London Computer Systems’ stunning new HQ

Miller-Valentine is currently in the process of building a new headquarters facility for London Computer Systems (LCS), developer of Rent Manager® property management software and other business-critical technologies, which has more than tripled in size since 2008. Located within WaterStone Business Park in Deerfield Township, the three-story, 78,000-square-foot building is situated on a wooded, 15-acre site overlooking I-71.

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LCS new headquarters in Deerfield Township, Ohio.

The new headquarters will bring together the fast-growing LCS team under one roof again—in a high-tech office environment that reflects the company’s product and in a building equipped with energy-efficient features designed specifically for the demands of this space. The Class A office building is a striking architectural design featuring exterior balconies, stonework, large overhangs, glass elevations and high ceilings that will bring in natural light. Inside, the large, open office floor plan incorporates upscale lighting features, paneled ceilings, interior glass and polished concrete floors. Floating stairways accent the common areas. Outside, employees will enjoy the walking trails threaded through the site’s acreage.

View time-lapse video below to see construction work in progress.

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Otterbein’s Terrace Place Apartments already beginning to feel like home

Otterbein's new independent living complex in Lebanon, Ohio.

At Otterbein’s sprawling, 4,000-acre Lebanon, Ohio, campus, Miller-Valentine is currently building the new four-story, 46-suite Terrace Place Apartments independent living complex, which will help meet the community’s fast-growing need for retirement housing.

Already, several of the Terrace Place apartments have been spoken for. Within the building, each floor will feature one- and two-bedroom suites. The apartments will include upgraded finishes such as vinyl plank flooring, ceramic tile and granite countertops. Much of the first floor will be partially below grade, housing an enclosed garage for 36 cars and 11 golf carts. On the second floor, residents will enjoy a terrace with a green roof constructed over the garage and a community room with a serving kitchen. Other amenities will include an exercise room and a library with computer stations. The building’s exterior façade of brick, cast stone and siding dovetails well with the balance of the campus.

While subcontractors carry out the finishing work, our in-house field Associates erected the structural steel, are installing hardware and will fill in where needed.

Part of the community

Otterbein–Lebanon currently has more than 800 residents. The need to find a compatible contractor capable of working around an existing, vibrant living community was critical. Says Otterbein Executive Director Bill Wexler, “In selecting Miller-Valentine for this project, Otterbein was looking for somebody local, somebody who could make a real commitment to this project. And,” says Wexler, “we are getting the kind of attention from Miller-Valentine that we anticipated.

“Miller-Valentine’s communication with us has been open and honest,” says Wexler. “They understand senior housing. This campus is rocking and rolling. We have 820 watchful residents monitoring the construction progress, all who want to be kept up to date on the building project.”

Wexler points out a number of positives Otterbein has appreciated in working with Miller-Valentine:

Miller-Valentine’s team has developed a special relationship with the Otterbein community. When the doors open next spring, the new Terrace Place Apartments will be one of many welcoming places Otterbein residents call home, and we are pleased to be an integral part of that.

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Miller-Valentine leverages in-house capabilities to drive schedules, keep projects on budget

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Clean room.

Miller-Valentine’s ability to self-perform construction workscopes is one of the many ways we ensure cost control, safety, top-quality workmanship and that projects are brought in on time—four critical components to meeting and exceeding our clients’ expectations. Our level of in-house expertise sets us apart and allows us, not market conditions, to control our progress.

Miller-Valentine’s self-performance capabilities include:

We leverage our self-performance capabilities as needed and where needed. When bids come in too high, there is a shortage of labor in the marketplace or weather threatens our schedule, our full-time team of field Associates will self-perform any scope necessary to keep projects on track.

Projects that demonstrate Miller-Valentine’s self-performance capabilities:

“Pratt Industries is proud to call Miller-Valentine Group its partner. From the first day Miller-Valentine’s skilled, hard-working crews came on board, we knew we'd made the right decision. We no longer see Miller-Valentine as our general contractor, but rather as part of our team.”

—Tom Forsch, Director of Engineering, Corrugating Division, Pratt Industries

Upwards of 80 percent of Miller-Valentine projects involve self-performed workscopes. We have built our reputation on providing the full-range of construction expertise. Our clients know we have the capability to self-perform critical project components and know we will employ these skills to their advantage.

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Why choose Design/Build over other, more traditional delivery methods?

Employing the Design/Build building delivery method puts everyone on the same page from square one, with the contractor, architect/engineer and owner working together as a team. This synergistic approach provides the owner one point of contact, a faster delivery schedule and competitive market pricing. Click here for a quick rundown on the advantages of the Design/Build delivery method and how it can benefit your bottom line and your timeline.

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Thank you to those who serve!

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Miller-Valentine Group is proud to again be recognized as a Military Friendly® Employer and Military Spouse Friendly Employer, designations presented annually by Victory Media, publisher of G.I. Jobs® and Military Spouse.

Miller-Valentine has 45 Associates on staff who are either veterans or current military members. Dedicated to achieving goals through teamwork, their training and leadership experience is invaluable. These individuals’ talents and skills dovetail perfectly with our corporate culture, supporting our commitment to our clients and to the Miller-Valentine community.

We are honored to employ them and thank them for their service.

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The Difference is Miller-Valentine Construction

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Design | Financing | Construction | Property Management.

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