Local Incentives

Aggressive Incentives in a City that Reaches Higher

Qualified businesses may be eligible to receive the following local incentives:

  • • Cash for jobs
  • • Infrastructure grant
  • • Forgivable loan
  • • Land Grant (PEDC owned land)
  • • Discounted Land Pricing (PEDC owned land)

These incentives are determined on a case-by-case basis dependent upon economic impact.

Property Tax Abatement 

Dependent on capital expenditure and total economic impact, the PEDC may recommend a property tax abatement to the Paris City Council and Lamar County Court.

Property Tax Rebate

Under Chapter 380 and 381 of the Local Government Code, the municipality and county have the ability to offer incentives to promote economic development, and to stimulate, encourage and develop business location and commercial activity in their jurisdictions. 

Tax Increment Reinvestment Zones (TIRZ) 

Tax Increment Reinvestment Zones (TIRZs) are special zones recommended to the City Council by the TIRZ Board and created by City Council to attract new investment in an area. These zones help finance costs of redevelopment and promote growth in areas that would otherwise not attract sufficient market development in a timely manner. Taxes attributable to new improvements (tax increments) are set-aside in a fund to finance public improvements within the boundaries of the zone. 

City of Paris Property Assessed Clean Energy (PACE) Program 

At the property owner’s request, the City will impose contractual assessments on the property to repay PACE financing for qualified energy and water conserving projects available to owners of privately owned commercial and industrial property. The following types of projects are qualified projects for PACE financing: Projects that (a) involve the installation or modification of a permanent improvement fixed to privately owned commercial, industrial, or residential real property with five ( 5) or more dwelling units, and ( b) are intended to decrease energy or water consumption or demand, including a product, device, or interacting group of products or devices on the customer’s side of the meter that uses energy technology to generate electricity, provide thermal energy, or regulate temperature. An assessment may not be imposed to repay the financing of facilities for undeveloped lots or lots undergoing development at the time of the assessment, or the purchase or installation of products or devices not permanently fixed to real property.