Local Economic Development Incentives
Aside from cash incentives, the East Montgomery County Improvement District can 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 infusion 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
Effective January 1, 2016, the East Montgomery County Improvement District or any other governmental entity may not enter into a contract requiring board approval unless the business entity submits a Disclosure of Interested Parties (Form 1295) at the time the business entity submits the signed contract to the governmental entity or state agency. For instructions on filling out the form, click here.
Facade Improvement Grant Program
The East Montgomery County Improvement District’s (EMCID) Facade Improvement Grant Program provides funding for commercial property owners and business owners/managers in EMCID’s boundaries for qualified exterior building and site improvements. Approved applicants are eligible for a 50% reimbursement on eligible expenses up to $10,000 and a 30% reimbursement on additional eligible expenses for a maximum grant amount of $10,000.
The purpose of the Facade Improvement Program is to support the revitalization of businesses within EMCID’s boundaries by stimulating private investment in high-quality improvements that enhance the appearance of buildings and properties, eliminate blight, address non-conforming design standards and stimulate private investment to aid in the revitalization of the area’s commercial corridors.
The businesses within EMCID’s boundaries are located along I69/US 59, Loop 494, FM 1314, FM 1485, SH 242, FM 2090, Northpark Dr. and SH 99/Grand Parkway. Expenditures eligible for reimbursement include those solely related to exterior building improvements (cosmetic and/or structural) and site improvements.
Freeport Tax Exemption
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. To be eligible, property must be assembled, stored, manufactured or fabricated locally and then exported out of the state within 175 days after the property was acquired or imported into the state. The goods do not include oil, gas or petroleum products or special inventories such as motor vehicles or boats in a dealer’s retail inventory. 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.
Employee Training
An extension of Lone Star College, offering corporate training and solutions to businesses and individuals.
Incentives Disclaimer:
Please note that incentives are not offered for every project. EMCID will work with each applicant to determine the specific needs of the applicant and tailor an incentive package to meet that company’s particular needs.