A wide range of incentives, programs and
grants are available to businesses on local and state levels to
reduce taxes, motivate job creation, provide job training, assist
manufacturing, decrease relocation costs, and more — all to
stimulate the growth of Abilene's economy.
Local Incentives
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Freeport
Tax Exemption - Local taxing authorities have the option
of exempting from ad valorem property taxes all business inventories
acquired in or brought into Texas for fabrication, assembling,
manufacturing, storage, or processing, and then exported outside
the state within 175 days. All inventories are covered except
oil, gas and petroleum products.
•
4-A
Half-Cent Sales Tax - In 1989, Abilene became the first
city in Texas to adopt the half-cent sales tax. Designed to
stimulate manufacturing and industrial development, the Sales
Tax raises money that may be used to pay for land, buildings,
equipment, infrastructure and other expenditures. The Development
Corporation of Abilene (DCOA) is charged with administering
sales tax revenues and is governed by a five-member Board of
Directors.
•
Manufacturing
Assessment Grants - Grants up to $7,500 provide eligible
Abilene businesses with assistance from the Texas Manufacturing
Assistance Center (TMAC). TMAC serves as a technical and business
resource to help businesses streamline manufacturing processes,
optimize factory operations, integrate today's technology, facilitate
vendor contacts, increase global competitiveness and enhance
work force development.
•
Job
Creation Incentives - Programs offer businesses from $1,000
to more than $17,000 for each new full-time job created. Dollar
amounts are determined by salary and non-mandatory employee
benefits.
•
Grants
for Code Compliance - Grants are available in amounts of
25% or more of costs associated with code compliance, including
architectural & engineering services and costs to alter existing
buildings.
•
Grants/Forgivable
Loans & Loan Participations for Capital Investment - Available
in amounts of 10% or more of capital investment costs, these
programs are offered to businesses as assistance, in lieu of
tax abatement.
•
Assistance
with Land Purchases - Assistance includes participation
in land costs of 25% or more.
•
Job
Training Grants - Funds of $500 or more are offered per
job, when employees complete training programs and a probation
period.
•
Relocation
Grants - Assistance is provided to businesses with relocation
costs of 15% or more.
State Incentives
•
Renewable Energy Incentives
- Manufactures, sellers, or installers of solar energy devices,
as well as other renewable energy devices, may receive a franchise
tax exemption.
•
Texas
Enterprise Zone Program - Businesses are awarded up to $7,500
for each full-time job they create.
•
State
Sales and Use Tax Exemptions - Texas businesses are excused
from paying state sales & use tax on the purchase of machinery
used for processing, packing, or marketing agricultural products.
•
Texas
Industry Development Program - This loan program, through
the Texas Industry Development Revolving Loan program, makes
capital available to Texas communities & eligible 501(c) 3 corporations
at favorable market rates. Rules for this program are set forth
in the Development Corporation Act of 1979.
•
Texas
Economic Development Act - Established in 2001, this act
allows school districts to attract new taxable property by offering
a tax credit and an eight-year limitation on the appraised value
of a property for the maintenance and operations portion of
the school district property tax.
•
Permit
Assistance - The Office of the Governor Economic Development
& Tourism division may aid companies who are experiencing unnecessary
delays in obtaining environmental permits, when projects could
impact the economy.
•
Economic
Development and Diversification In-State Tuition for Employees
- For companies planning to expand their operations in the state
of Texas, employees and family members are able to pay in-state
tuition fees for Texas institutions of higher education.
•
Rural
Municipal Finance Program - This loan program is targeted
to rural areas in Texas. To qualify, the project must demonstrate
benefits for the rural area. Loan amounts are approximately
$50,000 each.
For more detail about WindStar lndustrial
Center, see our Building Specs,
download our brochure
or contact us at (325) 698-5661.
