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Incentives |
Description |
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Tax Abatements
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Assistance is based on the company’s financial reports, the projected
increased taxable value of building and equipment, and number of employees.
The threshold requirement is an investment of $200,000 and an annual payroll
of $200,000. The maximum abatement of 100% for 10 years may be generated by
an investment greater than $5,000,000 and an annual payroll of $1,500,000.
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Freeport Exemption
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Property Tax Code Section 11.251 grants an exemption to freeport property,
which is defined as goods or inventory held in Texas temporarily for up to
175 days for assembling, processing, manufacturing, storage or other
purposes. The City of Copperas Cove and Coryell County have approved this
incentive. Qualified companies can apply for a Freeport Exemption from
the city and county. |
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Texas Economic Development Act
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Companies may agree to create a specific number of jobs, and build or
install specified types of real and personal property worth a certain amount
in exchange for an 8-year limitation on the appraised value of the property
for the maintenance and operations portion of the school district property
tax. The property must be devoted to manufacturing, R & D, or renewable
energy operation. |
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Skills Development Fund |
This
program, created in 1995, is administered by the Texas Workforce Commission
and is intended to assist community and technical colleges meet industry and
workforce needs. These funds can cover program design, instruction, texts,
and reusable equipment. |
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Community-Based
Job Training Grants |
This
federal program is a new, employer-focused competitive grant program for
training in community and technical colleges. The US Department of Labor's
Employment and Training Administration will conduct a competitive
Solicitation for Grant Applications. To be eligible to receive funds,
community colleges will be required to demonstrate they are engaged in a
strategic partnership with business and the workforce investment system, and
must describe how the partnership will work collaboratively in carrying out
grant activities. Community-based Job Training Grants are not intended to
merely fund community colleges' regular academic programs. Instead, the
focus will be on enhanced partnerships between employers, the workforce
investment system and community colleges that develop and carry out programs
of training that respond to specific employment needs in the local area.
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*NEW*
Texas Enterprise Fund |
The
78th Legislature created the Texas Enterprise Fund, giving the governor the
ability to respond quickly to opportunities to bring companies and jobs to
Texas. The $295 million fund is intended to attract high-impact facilities
that have the opportunity to provide high returns for taxpayer investment.
It includes a Deal Closing Fund of $200 million to provide the governor with
the ability to respond quickly and aggressively to opportunities to bring
companies and jobs to Texas. Also included is a Technology and Biotechnology
fund of $55 million to attract technology and biotechnology businesses and
support university research..
Click here to download the application (.doc).
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*NEW*
Texas Emerging Technology Fund |
Governor Rick Perry has called for the
creation of the Texas Emerging Technology Fund, a proposal to establish a
$300 million state fund that will be a catalyst for job creation over the
long term in Texas. The focus of this Fund will be on innovation and
commercialization of new products in emerging technology fields that will be
developed through partnerships between the state, academia, and the private
sector.
The $300 million would be allocated
towards the following uses:
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$150 million would be used to
establish Regional Centers of Innovation & Commercialization in Texas,
public-private collaborations focused on emerging technology projects with
a demonstrable economic benefit to the state.
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$75 million would be used to recruit
research talent from other areas of the country and the world.
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$75 million would be used as a match
for federal and private research grants. Federal grants, in particular,
are the bulk of money spent on R&D to innovate new products, and they
require matching funds to receive them.
All public and private institutions of
higher learning in the state would be eligible to form collaborations with
private entities to form the Regional Centers of Innovation and
Commercialization and to receive funds for matching grant and research
talent. Contracts governing fund awards would specify a portion or
royalties, income or other benefits be returned to the state for reuse in
the Fund.
Click here to download an application (.doc).
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Negotiable local incentives are awarded based on an
Economic Impact Analysis. The speculative building completed in 2002 might
be considered for sale/lease at below market value depending on the results
of the Economic Impact Analysis. In addition, incentives might include
workforce training funds, relocation allowances, infrastructure
improvements, developed or undeveloped land, one-stop municipal permitting,
waiver of municipal fees, Reinvestment Zone plus Job Fair assistance and
sponsorship.
The Central Texas Workforce Commission offers no-cost and
low-cost customized training, recruitment and skills assessment. They will
serve as a broker with local educational entities, who would provide the
actual training. Their facility has room for up to 45 people for employers
to use in recruiting.
The State of Texas offers many different programs to assist you in your
location efforts, including the Skills Development Fund (job training
assistance), Texas Capital Fund, Texas Leverage Fund and more. For more
information, visit
http://www.governor.state.tx.us/divisions/ecodev. |
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