Competitive Incentives and Financing
A diverse range of incentives and financing options help companies locate and expand in the Lone Star State.
Companies have options on where they locate, and states have options on how they incentivize. Texas has created programs and processes to go beyond the standard state-level offering. From the nation’s largest “deal-closing” fund to a financial assistance program to help public colleges and universities in Texas recruit the best researchers in the world, the State of Texas is also committed to ensuring companies move smoothly through the incentives process so they can focus on locating and expanding their facility.
- Enterprise Fund
- Events Trust
- University Research
- Enterprise Zone
- Product & Small Biz
- Skills Development
- In-State Tuition
Texas Enterprise Fund
A deal-closing fund the size of Texas.
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.
Events Trust Fund
Apply for event funding.
The Events Trust Fund program applies local and state gains from sales and use, auto rental, hotel, and alcoholic beverage taxes generated over a specified period of time. Eligible events are not restricted to sports, but the venue must have been selected through a highly competitive selection process.
Governor’s University Research Initiative
Grant program recruits distinguished researchers.
The Governor’s University Research Initiative grant program (GURI) has a goal to bring the best and brightest researchers in the world to the State of Texas. This program is a matching grant program to assist eligible institutions of higher education in recruiting distinguished researchers.
Texas Enterprise Zone Program
Advocating for job creation and economic assistance.
The Texas Enterprise Zone Program is an economic development tool for local communities to partner with the State of Texas to promote job creation and significant private investment that will assist economically distressed areas of the state.
Product Development and Small Business Incubator Fund
The Product Development and Small Business Incubator Fund (PDSBI) is a revolving loan program financed through original bond issuances.
The primary objective of the program is to aid in the development, production and commercialization of new or improved products and to foster and stimulate small business in the State of Texas.
Skills Development Fund
The Texas Skills Development Fund is an innovative program created to assist Texas public community and technical colleges to finance customized job training for their local businesses.
The Fund was established by the Legislature in 1995 and is administered by the Texas Workforce Commission. Grants are provided to help companies and worker associations form partnerships with local community colleges and technical schools to provide custom job training. Average training costs is $1,800 per trainee; however, the benefit may vary depending on the proposal.
Economic Development and Diversification In-State Tuition for Employees
Granting in-state tuition to relocating companies before establishing residency.
Economic Development and Diversification In-State Tuition for Employees is a program that allows employees—and those employees’ family members—of a qualified business considering a relocation or expansion of its operations in the State of Texas to pay in-state tuition rates at public institutions of higher education in the state without first establishing residency.
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