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Incentives

General Information


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MEDCO is a Type A non-profit economic development corporation.  We work to develop relationships with new and existing businesses that support primary jobs. 

This assistance can be in the form of financial incentives.  More often, however, prospects simply need to find accurate local information in order to make expeditious business decisions.  MEDCO services are time-savers.  From finding the right location, to tax detail, to navigation through the permitting process, MEDCO has the staff and experience to provide accurate data or direction that will help you make that decision.

Local Incentives


Services and incentives for qualified applicants may include:

Infrastructure
  • Site and utility improvements
  • Permit navigation
  • Construction assistance
Property 
  • MEDCO business parks
  • Office space availability
  • Private listings
  • Ownership information
Training
  • TSTC workforce & training information
  • Contacts with ETBU, Wiley College, and Panola College programs
  • Links to state funded training programs
Equipment
  • Capital expenditure incentives
  • Connection to low cost financing sources
Leases
  • Private listings and MEDCO property availability
  • Short-term lease availability
Government Liaison
  • Local area knowledge
  • Permitting and ordinance regulations
  • City and County government contacts
  • Intermediary for local agreements
Construction
  • Assistance locating contractors
  • Partial funding of construction or improvements
  • Construction intermediary between operators and owners
Market Research
  • Over 25 years of extensive local research
  • Workforce and economic information
  • Property and pricing details
  • Industry directories
  • B-B buyer and supplier information
Community Information
  • Local knowledge of area history and attractions
  • Community organization contacts for specific details
Regional Analysis
  • Custom research per prospect request
  • Regional data analysis from local, state, and national sources
  • Economic surveys
  • Workforce analysis
Abatement Assistance
  • Coordinate with the City and County for tax abatement agreements and hearings
  • Over 25 years of experience working with local and state government officials

 

State Incentives



Texas Enterprise Fund
  • The Texas Enterprise Fund (TEF) is a cash grant used as a financial incentive tool for projects that offer significant projected job creation and capital investment and where a single Texas site is competing with another viable out-of-state option.  Since its inception in 2004, the TEF has awarded over 100 grants totaling more than $500 million across a wide variety of industries and projects.  Variations in award amounts are influenced by the number of jobs to be created, the expected timeframe for hiring, and the average wages to be paid. In the past, awards have ranged from $194,000 to $50 million.  If you're seriously considering Texas and opportunities in some other state, the Texas Enterprise Fund (TEF) might help you make your decision.
Texas Capital Fund
  • The Texas Capital Fund supports rural business development, retention, and expansion by providing funds for public infrastructure, real estate development, or the elimination of deteriorated conditions.
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 administers funding for the program.  Success is achieved through collaboration among businesses, public community and technical colleges, Workforce Development Boards, and economic development partners.  For detailed grant information, forms and documents to submit a proposal, visit the Texas Workforce Commission's Skills Development Fund page.
Skills for Small Business
  • Skills for Small Business finances the design and implementation of customized job training programs for newly hired employees of small businesses, successfully merging small business needs and local customized training opportunities into a winning formula for putting people to work in Texas.  Administered by the Texas Workforce Commission (TWC), the Skills for Small Business program supports businesses with fewer than 100 employees, emphasizes training for new workers, and helps upgrade the skills of incumbent workers.  Through this program, up to $2 million from the Skills Development Fund is dedicated to the backbone of Texas' business community  —  our more than 433,000 small employees.
Texas Enterprise Zone
  • The Texas Enterprise Zone development tool allows local communities to partner with the state of Texas to encourage job creation and capital investment in economically distressed areas.  Local communities can nominate a new or expanding business as an "enterprise project."  Approved projects are eligible to apply for state sales and use tax refunds on qualified expenditures.  The level and amount of refund depends on the capital investment and jobs created at the qualified business site.
Freeport Exemption
  • Freeport Exemption is a property tax exemption.  A community may choose to offer the freeport exemption for various types of goods that are detained in Texas for a short period of time.  Freeport property includes goods, wares, merchandise, ores, and certain aircraft and aircraft parts.  Freeport property qualifies for an exemption from ad valorem taxation only if it has been detained in the state for 175 days or less for the purpose of assembly, storage, manufacturing, processing, or fabricating.  For certain aircraft parts, a community, by official action, may extend the deadline to 730 days.  For detailed information, please visit Texas Constitution Article 8, Section 1-J.  The freeport exemption is administered through the Comptroller of Public Accounts.
Other Funds & Helpful Sites

There are many other sources for funding and specific incentives offered by the State of Texas.  These include those listed at the following sites:

 

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