Texas Enterprise Fund is a cash grant used as a financial incentive tool for projects that offer significant projected job creation and capital investment. In the past, awards have ranged from $194,000 to $50 million.
Skills Development Fund provides local customized training opportunities for Texas businesses and workers to increase the skill levels of the Texas workforce. Training providers can use grant funds for curriculum development, training materials, instructor certifications and training equipment
Texas Enterprise Zone Program provides that a qualified project is eligible for a refund for all state sales and use taxes paid and used at the qualified business site. The total amount of any refund will continue to be predicated on investment amount and the number of jobs created and retained. The CCofGby is not within an enterprise zone, however there are enterprise zones throughout Granbury and Hood County. After a project is designated, 35% of the new jobs created must be filled by a person from an Enterprise Zone.
Texas Capital Fund Infrastructure/Real Estate Programs are development tools designed to provide financial resources for public infrastructure and real estate development. The real estate and/or improvements must be owned by the community and may be leased to the business. Amounts up to $1,500,000 are available depending upon the number of jobs created.
State Sales & Use Tax Exemptions are available for machinery and equipment used in the manufacturing of tangible personal property for sale. Companies in Texas are exempt from paying state and local sales and use taxes on electricity and natural gas used in manufacturing. Additionally, Texas provides 100% exemption on sales tax for computers and associated equipment including electricity and natural gas for powering Data Centers that meet certain specified criterion.
Texas Economic Development Act (Chapter 313) is an appraised value limitation in which a taxpayer agrees to build or install property and create jobs in exchange for a ten-year limitation on the taxable property value for school district maintenance and operations (M&O) tax purposes. For the CCofGby that value limitation is $80M and the M&O portion of the school tax is over 75% of the total school tax
Triple Freeport Exemption Agreements are ad valorem property tax exemptions for goods, wares, merchandise, ores, certain aircraft and parts, if they have been detained in Texas for 175 days or less for the purpose of assembly, storage, manufacturing, processing, or fabricating. In the CCofGby this tax exemption includes all three taxing authorities, the City of Granbury, Hood County, and Granbury Independent School District.
Pollution Control Equipment Incentive is a tax exemption for property that is used for pollution control purposes.
Renewal Energy Incentives allow a 100% tax exemption on the appraised value of solar, wind, or biomass energy devices installed for on-site use.
Chapter 380/381 Agreements authorize municipalities/counties to offer a range of incentives designed to promote economic development within their jurisdiction.
Tax Abatements are drawn up and voted on by the Granbury City Council or the Hood County Commissioners. All amounts and number of years are available, up to and including 100% tax abatement for 10 years.
Foreign Trade Zones provide that company goods can be unloaded, manufactured, assembled, tested, sampled, processed, repackaged, and re-exported without the intervention of US Customs authorities. CCofGby is not in an FTZ, but would be amenable to establishing an FTZ program.
Our commitment to your client does not end with the above incentive information. The City of Granbury, Hood County, and I will help you make those incentives a reality.
Click here to view the Texas Incentives