State Incentives
Skills Development Fund
The Skills Development Fund is Texas’ premier job training program. The program provides grants to community and technical colleges to develop customized job training programs for businesses who want to train new workers or upgrade the skills of their existing workforce. Learn More.
Texas Enterprise Fund
As the largest deal-closing fund of its kind in the nation, the Texas Enterprise Fund (TEF) was created to help attract new jobs and investment to the state. The TEF is a performance-based incentive tool used specifically for projects that project significant job creation, significant capital investment, and are paying above the county’s pay scale where a single site in Texas is competing with a viable out-of-state site. Projects that are considered for the TEF must demonstrate a significant rate of return on the public dollars being invested in the project. Learn More.
Texas Enterprise Zone
The PEDC and City of Paris can apply on behalf of the company to the Governor’s Economic Development and Tourism Department for consideration of an Enterprise Zone Designation. If granted, this designation will allow the company to apply for a $2,500 refund per FTE created during the five-year life of the designation. Because this is a five-year designation, only the estimated jobs created during that time will be calculated. Client may reapply at the end of the first five years for another five years for this refund. Learn More.
Industrial Revenue Bonds
Industrial Revenue Bonds (IRBs) provide a source of tax-exempt or taxable bond finance for projects involving significant private activity that promote new and existing businesses, encourage employment, and expand the tax base of a community. IRBs are issued by Industrial Development Corporations sponsored by a government unit, but their proceeds are passed on to private businesses, which are generally responsible for debt service payment.
Sales Tax Exemption on Manufacturing Equipment
Texas sales and use tax (8.25%) exempts tangible personal property that makes a chemical or physical change in the product being manufactured or is necessary and essential in the manufacturing process. Learn More.
Freeport Exemption
Client will be eligible for a 100% exemption from Ad Valorem taxes (City, County, and School) on inventory that leaves the State of Texas within 175 days of arrival. This incentive requires no prior approval for the Paris location and is in effect as long as Client has qualifying inventory. Learn More.