Governments consider using public funds to help incentivize proposed private economic development projects to strengthen the community’s economic viability on a case-by case basis. Incentives can take a variety of forms such as tax breaks, constructing supporting infrastructure, workforce development programing and other forms of assistance. Jurisdictions may use these incentives to pursue economic goals such as tax base diversification, job creation, or business retention and expansion.
TexAmericas Center works with new and expanding businesses to create quality jobs for the region so to improve the standard of living for Texarkana area residents.
A sample of available incentives below are used as an inducement to secure investment in our region’s economy and are offered on a case-by-case basis:
- Chapter 313 & 381 Agreements / Property Tax Abatement Agreements
- “Goods in Transit” Tax Exemption
- Sub-market lease rates on Existing Buildings
- Low Cost Shovel-Ready Ground
- In-house Permitting & Zoning
- Lowest property taxes in Northeast Texas
- Financing Options
- Economic Development Pricing for Utilities
- Financing Options
- Defense Economic Adjustment Assistance Grant Program
- Skills Development Fund / Job Creation & Training Grants
- Texas Capital Fund Infrastructure Grants
- Texas Enterprise Fund
- Texas Enterprise Zone Program
- Texas Reinvestment Zone Program
- Financing Options
- Application Assistance for pursuing Federal Grants, Loans and other Assistance
- Foreign Trade Zone #258
- HUBZone Designated
- New Market Tax Credits
- Opportunity Zone
Incentives often carry substantial risk. These risks include failure to direct scarce public funds to their highest and best use, violation of laws, and misuse of incentive programs. TexAmericas Center and its RED Team partners use policies that guide the use of publicly funded incentives help ensure that incentives are applied consistently with principles and practices Incentives often carry substantial risk. These risks include failure to direct scarce public funds to their highest and best use, violation of laws, and misuse of incentive programs. TexAmericas Center and its RED Team partners use policies that guide the use of publicly funded incentives help ensure that incentives are applied consistently with principles and practices
