Incentives

The State of Texas has several incentives available for companies looking to relocate or expand in the state.  You can take advantage of State Incentives in every town in Texas.  Below are just a few of the available incentives.  For more information please visit Texas Wide Open for Business.

Texas Enterprise Fund - The Texas Enterprise Fund (TEF) is the largest "deal-closing" fund of its kind in the nation. The fund is a cash grant used as a financial 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 Leverage Fund - The Texas Leverage Fund (TLF) provides a source of financing to communities that have adopted an economic development sales tax. Communities may leverage future sales tax revenues to expand economic development through business expansions, business recruitment, and exporting.

                                                  

 

Muncipalities in Refugio County can offer up the following incentives:

Tax Abatements - A tax abatement is a local agreement between a taxpayer and a taxing unit that exempts all or part of the increase in the value of the real property and/or tangible personal property from taxation for a period not to exceed 10 years. 

Tax Increment Financing- Tax increment financing is a tool that local governments can use to publicly finance needed improvements to infrastructure and buildings within a designated area known as a reinvestment zone. The cost of improvements to the reinvestment zone is repaid by the future tax revenues of each taxing unit that levies taxes against the property.

380 and 381 Agreements - Chapter 380 of the Local Government Code authorizes municipalities to offer incentives designed to promote economic development such as commercial and retail projects. Chapter 381 of the Local Government Code allows counties to provide  the same as Chapter 380 incentives encouraging developers to build in their jurisdictions. 

The above incentives are not exhaustive.  For a detailed discussion on the incentives available please contact our office.