Skills Development Fund
In concert with Paris Junior College, an application can be made to the Texas Workforce Commission for a Skills Development Fund grant at a maximum of $2,000 per new job trained up to $500,000 maximum total awarded.
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.
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.
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.
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.