Decatur Economic Development Corporation’s incentive packages are determined by type of business or industry, quality of job created or retained, salary level, capital investment and overall impact in the community. Potential projects and existing business and industry may also be available for State of Texas incentives.** The DEDC staff is ready to work directly with the project or company to identify the incentives available that will work the best in terms of overall needs for all concerned.
Potential incentives include: (see further details below)
• Cash grants based on job creation
• Tax rebates–percentage dependent on job numbers and total capital expenditure
• Workforce training programs at Weatherford College Wise County Campus or on site at business or industry
• Infrastructure reimbursement
• Fee waivers or reductions
• Expedited development process
• Build to suit/lease back in conjunction with third party developer
• Chapter 380 Financing
• Triple Freeport Exemption
(Regarding the State of Texas available incentives – View website for info)
Cash Grants used for incentives are specific to job creation numbers and are generally granted for primary jobs(those that infuse new dollars into the local economy by creating or selling a product or service that is ultimately exported to regional, statewide, national or international markets) in Decatur’s desired targeted business and industry.
The city of Decatur offers property tax abatement to certain types of business and industry based on primary job creation and capital investment. The number of years and percentage of abatement/rebatment is based on actual job creation numbers and actual dollar amount of capital investment.
Infrastructure reimbursement can occur as it relates to extension of water and sewer lines or movement of existing lines to expedite or increase the likelihood of a project.
Fee Waivers, Reductions or Reimbursements
In order to help allay some of the initial capital costs for a desired project, DEDC may opt to reimburse the business or industry or reimburse the city for necessary development fees.
Expedited Development Process
DEDC will work diligently with the business or industry to make sure all necessary development processes are followed and expedited as necessary to ensure a smooth project.
Build to Suit/Lease Back
DEDC can facilitate with local development companies a build to suit/lease back scenario for a business or industry that is needing a building that is specific to their needs and is unable to find it readily in the marketplace.
Chapter 380 Agreements
Chapter 380 is a reference to chapter 380 of the Texas Local Government Code. This
chapter of the Texas Local Government Code authorizes Texas municipalities, both
home-rule and general law municipalities to provide assistance for economic
development. Texas cities may provide monies, loans, city personnel, and city services
for promotion and encouragement of economic development. Section 380 provides a mechanism for the city to refund or rebate their 1.00% portion of the sales and use tax under circumstances that are beneficial for the city and the business or industry.
Triple Freeport Exemption
The City of Decatur, Decatur Independent School District and Wise County offers Freeport property tax exemption. The exemption allows for a 100% personal property tax exemption for goods, wares, merchandise and other tangible personal property acquired in Texas or brought into Texas and held here 175 days or less before being shipped out of the state. The property must be in the state for assembling, storing, manufacturing, repair, maintenance, process or fabrication purposes.
Economic Development & Tourism – Incentive Programs
Texas takes the initiative to invest in its future by offering competitive incentives to companies who are creating jobs and driving innovation in Texas. The incentives in this section are a summary of the most commonly utilized state offerings. Local incentives and tax abatements are not included here. For local incentives, please contact the local economic development representative.
Select Committee on Economic Development Report
Texas Enterprise Fund » The Texas Enterprise Fund (TEF) is the largest “deal-closing” fund of its kind in the nation. The fund is used as a final incentive tool for projects that offer significant projected job creation and capital investment and where a single Texas site is competing with another viable out-of-state option.
Texas Emerging Technology Fund
The Texas Emerging Technology Fund (TETF) provides Texas with an unparalleled advantage in the research, development, and commercialization of emerging technologies by offering grants to recruit the best research talent in the world and to help companies take ideas from concept to development to the marketplace.
Texas is committed to facilitating funding for companies and communities with expansion and relocation projects in the state. Asset-based loans for companies, leveraged loans to communities, and tax-exempt bond financing are just a few means of obtaining the capital necessary for a successful project.
From public infrastructure projects in non-entitlement communities to cancer research and laboratory facility construction, several types of grants are available to Texas communities and businesses.
Tax Incentives » Both the state and local communities offer a variety of tax incentives and innovative solutions for businesses expanding in or relocating to Texas. Programs include Enterprise Zone sales tax refunds, manufacturing sales tax exemptions, property tax value limitation, and “freeport” inventory tax exemptions.
Workforce training programs are provided through the Texas Workforce Commission.
Spaceport Trust Fund » The Spaceport Trust Fund is a tool to assist in fostering the growth of the aerospace industry in Texas. This includes job creation, capital investment, and energizing students to pursue an interest in space. The fund is a grant program that assists a spaceport development corporation establish infrastructure needed to operate a launch facility.