The following are examples of specific grants utilized by cities and counties in our area:
To assist expanding and relocating primary employers monitor the incentive tools available from federal, state, regional and local regions. Listed below are some of the most common to our area:
TAX ABATEMENT
A common economic development tool that can defer property taxes on new plant and equipment expenditures for expanding companies.
FREEPORT EXEMPTIONS
Companies in each named county that ship certain products our of the State of Texas within a 175 days can realize substantial saving in taxes with this exemption. The following cities have triple Freeport exemption, city, county and school: List included.
ENTERPRISE ZONES
A variety of incentives are available to companies locating or expanding within any designated Enterprise Zone
TEXAS ENTERPRISE FUND
A fund awarded by the State of Texas to companies demonstrating large growth
TRAINING GRANTS
Area and State grants are available to assist companies with their training needs.
REVOLVING LOAN FUND
A city or county can manage a revolving loan fund used to help small businesses find the capital they need to start or grow their business.
TAX INCREMENT FINANCING
This economic development tool has been used to finance public improvements and enhance infrastructure in defined areas.
DISCOUNTED LAND
Each city or county manage several areas of industrial/commercial land and can discount the purchase price for projects that create substantial new investment or new primary jobs in their area.
HALF CENT SALES TAX
Many cities have been using this economic development to improve infrastructure and attract new developments to encourage growth, paid incentives for a particular number of new employees, stated operating cost on a per year basis, buy down lease cost for designated number of months based on total employment guaranteed by company.
RETAIL INCENTIVES Incentives to attract retail is not currently available
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