Texas Enterprise Fund
The Texas Enterprise Fund (TEF), the largest “deal-closing” fund of its kind in the nation, continues to attract businesses and jobs to Texas. The TEF can be used for a variety of economic development projects, including infrastructure development, community development, job training programs and business incentives.
Projects that are considered for the Enterprise Fund support must demonstrate a project’s worthiness, maximize the benefits to the State of Texas and realize a significant rate of return of the public dollars being used for the economic development of Texas. Capital investment, job creation, wages generated, financial strength of the applicant, applicant’s business history, analysis of the relevant business sector, and federal and local government and private sector financial support of a project will all be significant factors in approving the use of the Enterprise Fund.
Applications for the TEF must be submitted to the Office of the Governor, Economic Development & Tourism Division, which provides information on how funds are to be utilized and how the proposed project meets the criteria of the program.
Skills Development Fund
The Skills Development Fund is Texas’ premier job-training program providing local customized training opportunities for Texas businesses and workers to increase skill levels and wages of the Texas workforce. The Texas Workforce Commission (TWC) administers funding for the program. Success is achieved through collaboration among businesses, public community and technical colleges, Workforce Development Boards and economic development partners.
Texas Enterprise Zone Program
Not to be confused with the Texas Enterprise Fund. Projects are eligible to apply for state sales and use tax refunds on qualified expenditures. The level and amount of refund is related to the capital investment and jobs created at the qualified business site. The Enterprise Zone Program is administered through the Office of the Governor, Economic Development Bank. EMCID will file the TEZP application and complete some of the application requirements and the Project will provide information as needed.
Economic Development & Diversification In-State Tuition for Employees
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. EMCID may apply on behalf of the business, so long as the business is still in the decision-making process to relocate or expand its operations at the applicable site. The incentive lasts for a period of 5 years after the qualified business becomes established as part of the state’s Economic Development and Diversification Program.
State Business Assistance Programs
Business Permit Office
The Business Permit Office serves as an ombudsman/liaison to assist businesses of all sizes in navigating Texas’ permitting, licensing and regulatory environment and aids in resolving permitting issues that arise.
Skills for Small Business Fund
This exceptional opportunity supports businesses with fewer than 100 employees and emphasizes training for new workers though it also may help upgrade the skills of incumbent workers. Small businesses can apply to Texas Workforce Commission (TWC) for training offered by their local community or technical college, or the Texas Engineering Extension Service (TEEX). Administered through the Texas Workforce Commission, up to $2 million from the Skills Development Fund is dedicated to Texas employers.
Skills for Veterans Fund
All private businesses, including private, nonprofit hospitals, can apply to Texas Workforce Commission TWC for training offered by their local community or technical college, or the Texas Engineering Extension Service (TEEX), to upgrade the skills of newly hired veterans. All private businesses, including private, nonprofit hospitals, can apply to TWC for training offered by their local community or technical college, or the Texas Engineering Extension Service (TEEX), to upgrade the skills of newly hired veterans.
Capital Access Program
A partnership between the State of Texas and selected non-profit lenders to increase access to financing for small and medium-sized businesses and non-profits facing barriers to accessing capital or fall outside of guidelines of conventional lending. The Program facilitates loans which are underwritten by the participating non-profit lenders and supported by the state contributions to a loan loss reserve fund. Loans may be used for working capital or the purchase, construction or lease of capital assets, to include buildings and equipment.
Texas Manufacturing Assistance Center (TMAC) – Gulf Coast Region
TMAC is the Texas Manufacturing Assistance Center, hosted at the Texas A&M Engineering Extension Service (TEEX) in College Station, TX. TMAC TEEX offers manufacturers extensive opportunities to advance business profitability in skills training, business process analysis and practices to boost productivity, regulation-required training, supply chain development and strengthening, and product innovation.
Texas Rural Economic and Community Development Programs
Texas Capital Fund
Provides funds for public infrastructure, real estate development, or the elimination of deteriorated conditions.
Texas Capital Fund Infrastructure / Real Estate Programs
Designed to provide financial resources to non-entitlement communities and are available monthly, on a competitive basis, to eligible applicants statewide.
Funds from the infrastructure program can be utilized for public infrastructure needed to assist a business that commits to create and/or retain permanent jobs, primarily for low and moderate-income persons.
Funds from the real estate program must be used for real estate development to assist a business that commits to create and/or retain permanent jobs, primarily for low and moderate-income persons. The real estate and/or improvements must be owned by the community and leased to the business.
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.