The East Montgomery County Improvement District offers cash and non-cash incentives to companies that locate or expand within the boundaries of the District. Incentive funds can be used for training, building improvements, furniture, equipment, fixtures, and various needs. To see Demographic Studies, Retail Market Opportunities, the Industrial Park or Residential Development, please click on the links or go to the menu to the right.
The following programs are available to assist your company in its decision to select East Montgomery County as your next destination!
Aside from cash incentives, the East Montgomery County Improvement District has the ability to structure incentive packages which may include all or part of the following:
- Lease purchase options.
- Tax Abatement on property which is improved.
- Land donation to be utilized as equity in your project in return for jobs being created.
- Cash injection available to reduce the costs of utilities or services needed for your site.
- Subordinate debt financing structures.
- Equity participation.
- Professional construction assistance or participation in site development costs.
- Assistance in bonding capability.
East Montgomery County Economic Development Corporation (EMCEDC) can provide additional financing options for your reloaction or expansion needs with below market rates and extended terms in return for job creation activities.
Lone Star College System will help train employees and will assist with obtaining job training dollars from the State of Texas Smart Jobs Program. The Texas Workforce Commission will also provide assistance with job advertising and pre-screening of applicants, as well as job training of up to $1,500 per job through the Skills Development Fund.
The Splendora Independent School District has adopted a Freeport Exemption for businesses within its district's boundaries. Under this program, Freeport property qualifies for an exemption from ad valorem taxation so long as it has been detained in the state for 175 days or less for the purpose of assembly, storage, manufacturing, processing, or fabricating, as provided under Tax Code Section 11.251 of the Texas Constitution. Some types of companies currently receiving Freeport tax exemptions include automakers, computer manufacturers, beverage producers, iron works, warehousing and distribution facilities, and medical supply companies.
Texas Department of Economic Development
Texas Capital Fund Infrastructure Program
This program provides grants for the construction of first-time public infrastructure projects incidental to an incoming business or a business expansion. Eligible projects include water, sewer, streets, gas lines, drainage, treatment facilities, landfills, railroad spurs, traffic signals, dredging of harbors or channels, telecommunications and electric lines, and acquisition of real estate for infrastructure.
Texas Capital Fund Real Estate Development Program
This program provides funding to nonentitlement communities to construct, acquire, or rehabilitate real estate so that it may be lease to a company. Awards range from $50,000 to $500,000.
Texas Manufacturing Assistance Center (TMAC)
TMAC was designed to help Texas small manufacturing companies remain competitive in the ever changing global marketplace. TMAC provides technical assistance at a discounted rate for process improvements, environmental regulations upgrades, changes in the technology and the marketplace.
The Smart Jobs fund is an innovative program providing direct grants to Texas businesses for customized training in occupations that are manufacturing, emerging and in demand. The program allows the employers to determine what training is needed for their work force.
Skills Development Fund
This is a new program designed for business and labor unions to form partnerships with community colleges and technical colleges to provide customized job training for employers.
Rural Economic and Community Development Services
USDA Business and Industry Loans
The Business and Industry Loan program provides loans from $1 million to $10 million for business and industrial acquisitions, land purchase, machinery and equipment, construction, enlargement, or modernization, pollution control or abatement, working capital, and refinancing when necessary to save jobs. There is no requirement the business be related to agriculture. Manufacturing, retail, wholesale and services are eligible.
Small Business Administration Finance Programs
SBA 504 Program
This program provides fixed asset financing at below-market fixed rates of interest. The loan may be used to acquire land, construct buildings, purchase land, buildings, machinery and equipment. The 504 loan is coordinated between the SBA and a private lender, with the lender covering 50 percent of the project, the SBA covering 40 percent and the borrower 10 percent. The maximum participation by the SBA is $1 million.
SBA 7(a) Program
The 7(a) program guarantees commercial lending institutions up to 80% for loans under $100,000 and up to 75% for loans over this amount and up to $750,000. Funds can be used to finance working capital, fixed asset acquisition, including land, buildings and equipment.
SBA Low Doc Program
There are numerous SBA programs for financing fixed assets, land, buildings, machinery and equipment through the SBA (504) program. If working capital is needed, an excellent resource is the SBA7 (A) program. Please contact our office for additional information relating to these financing programs.