Since 1989, the city Council-Approved Development Corporation of Abilene (DCOA) has had a singular goal — to facilitate the creation of jobs in west central Texas, thereby enhancing the vitality of communities and the overall quality of life for all residents. As a Type A corporation, DCOA funding from taxes is fully controlled at the local level.
Created in 2003, the Texas Enterprise Fund (TEF) is the largest “deal-closing” fund in the nation and exerts a heavy focus on job creation and capital investment to compete with out-of-state options. Over 100 grants have been awarded across a spectrum of industries since the fund’s inception, totaling more than $500 million.
Performance agreements and Half Cent Sales Tax are other powerful local incentives. Performance agreements are fully controlled at the local level and are not dependent upon state of county approval. Every economic development incentive package is prepared to meet the best possible solution for each company’s needs while considering the return to the community.
Texas offers a state tax incentive through the Texas Enterprise Zone Program for businesses that create job growth and capital investment in redeveloped parts of the community.
Additionally, data centers are exempt from state sales and use tax on certain items that are essential to their operation, and a Freeport property tax exemption spares goods that are detained in Texas for 175 days or less from taxation — making the state an ideal site for businesses involved in high-volume warehousing.
Other state incentives include:
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