Texas takes the initiative to invest in the future by offering competitive incentives to companies who create jobs and drive innovation as they do business in our state and its communities. This section summarizes some of the most commonly utilized state offerings. Texas cities, counties and communities often offer local incentives and tax abatements. For local incentives, please contact the local economic development representative.
The Texas Enterprise Fund (TEF) awards “deal-closing” grants to companies considering a new project for which one Texas site is competing with other out-of-state sites. The fund serves as a financial incentive for those companies whose projects would contribute significant capital investment and new employment opportunities to the state’s economy.
The Event Trust Funds program is comprised of three separate funds—the Events Trust Fund, Major Events Reimbursement Program, and Motor Sports Racing Trust Fund—targeted at attracting various types of events to the State of Texas. The Funds can assist Texas communities with paying costs related to preparing for or conducting an event by depositing projected gains in various local and state taxes generated from the event in a dedicated event-specific trust fund to cover allowable expenses.
The Governor’s University Research Initiative (GURI), enacted in 2015, is aimed at helping Texas public institutions of higher education recruit distinguished researchers from around the world to the State of Texas. The program seeks to bolster both the standing of Texas public colleges and universities and economic development efforts statewide.
The Texas Enterprise Zone Program (EZP) is a state sales and use tax refund program designed to encourage private investment and job creation in economically distressed areas of the state.
Download an overview of Texas business incentives and programs available through the Governor's Economic Development Office.