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Tax
Abatements: Johnson
County is committed to the promotion of high quality
development throughout the area. On a case-by-case basis,
the County and each of the cities in the area will give
consideration to providing tax abatements on the increment
in value added to a particular property by a specific
development proposal which meets the economic goals and
objectives of the particular city and Johnson
County.
Enterprise
Zones: Alvarado,
Burleson and Cleburne are Enterprise Zone cities.
Businesses located in these
zones may be eligible for local and/or state benefits. State
incentives can include a refund of state sales and use
taxes, franchise tax reductions, and state administered
program priority. Local benefits can include property tax
abatement, regulatory relief, job training services, refund
of local sales and use taxes, utility reductions,
low-interest loans, and other individually negotiated
benefits.
The Sate of Texas offers a
variety of incentive programs designed to make capital more
available for businesses looking to expand or locate in the
state, as well as for companies already doing business in
Texas. Committed to retaining its ìbusiness
friendlyî reputation, Texas stands ready to help
businesses expand, and become globally competitive. The
following programs demonstrate this commitment.
TEXAS
ENTERPRISE ZONE PROGRAM
The Texas Enterprise
Zone Program encourage permanent job creation and retention,
as well as capital investment in economically distressed
areas of Texas. Communities find the Enterprise Zone Program
a positive, viable economic development strategy by
providing state and local incentives to new or expanding
businesses.
Businesses located in
enterprise zones may be eligible for local and/or state
benefits. To obtain state benefits, a business must be
designated as an enterprise project. State incentives can
include a refund of state sales and use taxes, franchise tax
reductions, and stare administered program priority.
Additional state benefits are available to qualified
businesses designated as enterprise projects, which are
nominated by communities or counties on a competitive
basis.
Local incentives may include
property tax abatement, regulatory relief, job training
services, housing improvements, refunds of local sales and
use taxes, utility reductions, low-interest loans, and other
incentives developed by participating communities.
Since the program began in
1987, more than 334 businesses have been designated as
enterprise projects. These businesses have committed to
creating more than 53,000 jobs, retaining more than 2,800
jobs, and investing more than $7.4 billion in capital. See
ìDepartments and Agenciesî Finance for contract
information.
TEXAS
CAPITAL FUND
The Texas Capital Fund
consists of three programs (Infrastructure Grant, Real
Estate Development and Main Street) that are designed to
promote growth in rural non-entitlement areas generally
defined as cities with fewer than 50,000 residents or
counties with less than 200,000 residents. Awards are made
through eligible cities and counties to assist businesses
that employ low to moderate-income persons.
Infrastructure
Grant Program
This program promotes
economic development in rural areas by providing financial
incentives to assist businesses wishing to locate or expand
in their communities. Funds may be used for construction
and/or improvements of water or wastewater facilities,
public road construction, natural gas line services, rail
spurs, and electric power services. Minimum and maximum
awards are $50,000 and $750,000, respectively. Awards may
not exceed 50 percent of the total project cost. See
ìDepartments and Agenciesî Finance for contact
information.
Real Estate
Development Program
This program promotes
economic development in rural areas by providing financial
incentives to assist businesses wishing to locate or expand
in their communities. Funds may be used to acquire,
construct, or rehabilitate real estate to support a
for-profit or a non-profit entity willing to commit to
creating or retaining jobs primarily for low or moderate
income persons. Minimum and maximum awards are $50,000 and
$750,000, respectively. Awards may not exceed 50 percent of
the total project cost. See ìDepartments and
Agenciesî Finance for contact information.
Main Street
Program
This program fosters and
stimulates the development of small businesses by providing
financial assistance to non-entitlement ìMain Street
Citiesî (designated by the Texas Historical
Commission) for public improvements. Proceeds may be used
for the acquisition of land for proposed improvements;
architectural, engineering, and design costs for
construction or rehabilitation of such improvements; and
public improvements integral to the development of the
project, including water or wastewater facilities, public
road construction, natural gas line services, electric power
services, drainage, lighting, sidewalks, public parking
lots, and activities required to eliminate architectural
barriers for the handicapped. Minimum and maximum awards are
$50,000 and &150,000, respectively. Awards may not
exceed 50 percent of the total project cost. See
ìDepartments and Agenciesî Finance for contact
information.
TEXAS
LEVERAGE FUND
The Texas Leverage Fund
(TLF) is an ìeconomic development bankî that
offers financing to communities that have passed the
economic development sales tax. The Texas Leverage Fund may
be used to provide financing to local businesses for
industry expansion or recruitment, industrial parks
establishment, or certain community project financing. With
the assistance of Bank One, Texas, the TLF was capitalized
with $25 million in State of Texas taxable commercial paper.
The Fund allows communities to put sales tax money to work
quickly, make decisions at the local level, and monitor the
project on an on-going basis. Eligible projects include the
development or expansion of manufacturing and industrial
enterprises, as well as the improvement of infrastructure
tied to specific businesses. See "Departments and Agencies"
Finance for contact information.
INDUSTRIAL
REVENUE BONDS
The State of Texas Small
Business Industrial Revenue Bond Program allows local
industrial development corporations to issue tax-exempt
bonds to finance land and depreciable property for
manufacturing facilities. The maximum bond amount is
$10,000,000 for tax-exempt issues, and the maturity of the
bonds may extend to the lessor of 40 years or 120% of the
depreciable life of the assets being financed. Eligible
project costs include the acquisition by a business of an
existing facility, acquisition of land, construction of new
facilities, machinery tools, equipment, and a limited amount
of the bond issuance costs.
Industrial revenue bonds may
be both taxable and tax-exempt. Tax-exempt bonds must secure
a place under the stateís private activity bond
volume cap administered by the Texas Bond Review Board. See
ìDepartments and Agenciesî Finance for contact
information.
TEXAS SMALL
BUSINESS INDUSTRIAL DEVELOPMENT CORPORATION
The Texas Small Business
Industrial Development Corporation (TSBIDC) has developed
the Texas Public Facilities Capital Access Program (TEXCAP)
to promote economic development in the State of Texas and to
assist eligible borrowers in financing eligible economic
development projects. To be eligible, a borrower must be
located within the State, within the power of an eligible
borrower to finance and approved for financing by the
Issuer, the Commission, Issuerís Bond counsel,
Issuerís Counsel, and the Administrative
Agent.
A project eligible for
financing must consist of land, buildings, equipment,
facilities and improvements found by the Issuer to be
suitable for the development and expansion of certain public
infrastructure and facilities. The minimum loan amount is
$250,000 (no maximum). Loans are subject to a variable
interest rate. Loans may not exceed 120% of the useful life
of the assets being financed or extend past year 2026 at
which time the TSBIDC bonds will expire. See
ìDepartments and Agenciesî Finance for contact
information.
Continued...
JOHNSON COUNTY ECONOMIC DEVELOPMENT COMMISSION
10 N. Caddo PMB 215, Cleburne, Texas 76031
Phone: 817-556-6985 - Fax: 817-556-6160 - E-mail: jcedc@digitex.net
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