Incentives & Financing
Tax Phase-In is the partial, temporary exemption from ad valorem taxes on certain qualifying property in a Reinvestment Zone designated by the City and/or County for economic development purposes. Only ad valorem (property) taxes are eligible for the phase-in incentive. Brenham Independent School District and Blinn College taxes are required to be paid in full at all times.
The Washington County Industrial Development Corporation, Washington County Health Facilities Corporation and the Washington County Housing Finance Corporation are authorized to issue revenue bonds for the public purpose of promoting and developing new and expanded commercial enterprises, expaning and improving health facilities, and promoting and developing new and expanded multi-family rental residential development respectively. All three Corporations act as a conduit through which all of the monies are channeled, and because the bonds are issued on behalf of a governmental entity, the interest on the bonds is tax exempt to the bond purchaser. In turn, the bonds may carry a lower rate of interest than conventional financing, making them more attractive to a user.
The Texas Enterprise Fund provides the state’s leaders with a “deal closing fund” that has the flexibility and financial resources to help strengthen the state’s economy. The fund can be used for a variety of economic development projects, including infrastructure development, community development, job training programs and business incentives.
The Texas Enterprise Zone Program is an economic development sales tax incentive partnering the state and local government to help local employment and support business investment. The program is performance based and allows qualified businesses to receive a refund of state sales and use taxes, ranging from $2,500-$7,500 per job created and/or retained during a five-year designation period, up to a maximum of $1.25-$3.75 million.
The Texas Skills Development Fund is Texas’ premier job-training program providing training dollars for Texas businesses and workers. A business, consortium of businesses, or a trade union identifies a training need, and then partners with a public Community or Technical college to fill its specific needs. The Skills Development Fund pays for the training, the college administers the grant, and businesses create new jobs and improve the skills of their current workers.