The City of Center offers a wide spectrum of incentive opportunities to qualifying businesses and investments. Please reference the City's economic development policy document for additional information. Each of these incentives are to be judged on a case-by-case basis within the policy guidelines and goals of the Center City Council and Economic Development Corporation.
To qualify for incentive funding through the Center EDC, a thorough review of a company's business plan and financial information will be conducted. The amount of incentive funds, if any, will be based on the number, type, and average wage of full time primary jobs.
New Market Tax Credits
Center is located in appropriate census tracts for a business to qualify for New Market Tax Credits.
Property Tax Abatements
Based on capital investment and job creation, the City may grant a property tax abatement on the value of the improvements to the property.
Sales Tax Rebates
Based on capital investment and job creation, the City may rebate part of the city portion of sales tax collected from the business.
Site Development Assistance
The Economic Development Corporation, working in conjunction with the City of Center, may be able to provide assistance to the business in extending utility services to the business location at no cost to the business.
Tax Increment Financing
The tax increment financing zone can be used to finance the cost of improvements to assist a business.
The Economic Development Corporation has partnered with business for workforce training assistance. The EDC has paid for items such as training equipment, computers, and instructor fees.
Other Local Incentive Programs
The City of Center and the Center Economic Development Corporation can also negotiate a customized incentive package including, but not limited to: Rebate of inspection fees, land acquisition costs relocation costs, and utility extensions.
Sponsorships of Texas Capital Fund Grants
The State of Texas manages the Texas Capital Fund program, a grant program to help communities recruit and retain key employers to the city. The grant program allows for the extension of utilities to the property line, such as electrical, gas, fiber optic, water and wastewater. The program also will provide a grant to a business for the construction of a building. However, this is a zero-interest loan to the business.
STATE OF TEXAS INCENTIVE PROGRAMS
Visit the Texas Governor's Office of Economic Development and Tourism Page for more information about incentive programs offered and managed by the State of Texas.