Incentives

Creative Incentives Make A Difference . . .
 

The Greenville EDC will work with your company to develop an Incentive Package that will make a difference! Our goal is to craft incentives tailored to your unique needs in bringing your company to Greenville.

The Greenville EDC’s mission and purpose is to attract new business and retain existing business, with a specific focus on major industry capital investment and primary jobs. To ensure maximum community benefits through the expenditure of public funds, the threshold for consideration of any type of incentive package is a minimum capital investment of $1 million and the creation of a minimum of 10 jobs. For projects meeting this threshold, the Greenville EDC will consider offering a customized incentive package based upon the particular needs of the client, and most importantly, one that will be of maximum benefit to the business.

All incentive offerings are carefully evaluated on a case-by-case basis and are determined by the seven-member Board after completion of a comprehensive Cost/Benefit Analysis. The following are incentives available for consideration that may be of benefit to companies considering Greenville for a significant investment in new or expanded facilities:

Economic Development 4A Sales Tax

In May 2002, the citizens of Greenville adopted a 1/8 of one percent sales tax to support economic development initiatives. Proceeds are dedicated for the creation and retention of primary jobs and capital investment in Greenville. Depending on the economic impact of the project and specific needs of the company, funds may be used to partially off-set the cost of existing company expansions and new company facility locations. Incentive grants may be applied to purchase land for development and/or buildings, new construction, renovation, infrastructure, equipment, or employee training programs.

Low-Cost Land

The City of Greenville has abundant industrial land, developed and available for development, much of it owned by the Greenville EDC. The price per acre is reasonable and negotiable, based on the particular tract of land, the size required by the project, and the total investment and primary jobs created by the project. However, most companies find the value of the land an attractive draw to Greenville, particularly as compared to land costs in the immediate Dallas-Fort Worth Metroplex.

Tax Abatement

On a case-by-case basis, the City of Greenville, Hunt County, and Hunt Memorial Hospital District will consider granting tax abatements on the appraised value of real property improvements and business personal property in accordance with the applicable guidelines and criteria:

Must increase the value of the property a minimum of $1,000,000.00 or more attributable to the increase in value of buildings, structures, site improvements, fixed machinery and equipment, and related fixed improvements

For new facilities, the value of eligible properties may be abated for up to seven (7) years; for modernization or expansion, the value of eligible properties may be abated for up to five (5) years

Authorized Facility may be eligible for abatement if it is a Manufacturing Facility, Research Facility, Distribution Center or Regional Service Facility, Regional Entertainment Facility, or Other Basic Industry

All Tax Abatements are subject to the creation of a Reinvestment Zone and subsequent approval of the governing bodies of each taxing entity. Tax Abatements may be granted by all taxing entities except the Greenville Independent School District.

Industrial Revenue Bonds

The Greenville Industrial Development Corporation can issue taxable and tax-exempt bonds to finance land and depreciable property for eligible industrial and manufacturing projects.

Tax Increment Financing

Greenville will consider using Tax Increment Financing to finance needed public improvements in a defined area. The cost of public infrastructure improvements to the area is repaid by the contribution of future tax revenues by each taxing entity that levies against the property.

Enterprise Zone Projects (State)


Projects may be nominated by the City of Greenville for participation under the State's Enterprise Zone Program.  If a project is qualified by the State after being nominated by the City as an Enterprise Zone Project, the designated project is eligible to apply for state sales and use tax refunds on qualified expenditures for a period of up to five (5) years. The level and amount of refund is related to the capital investment and jobs created or retained at the qualified business. In accordance with the Texas Enterprise Zone Program, and based on the location of the facility, qualified companies must commit that at least 25% or 35% of their new employees will meet economically disadvantaged definition or enterprise zone residency.

Texas Capital Fund (State)


The City of Greenville qualifies under the State of Texas Department of Agriculture guidelines for Texas Capital Fund grants and/or loans awarded to help finance the installation of infrastructure for companies that commit to create and/or retain permanent jobs for low and moderate income persons. Applications are selected on a statewide competitive basis with scoring based on community distress, benefits to low/moderate income persons, number of employees and other company provided information. If awarded, a Texas Capital Fund grant and/or loan could substantially reduce the site development cost for a qualified project.

Skills Development Fund (State)


The Greenville EDC will actively support and work with companies to secure funds through the Texas Workforce Commission Skills Development Fund. In cooperation with industry and the Greenville campus of Paris Junior College, this fund assists business by designing, financing, and implementing customized job training programs.

Texas Enterprise Fund (State)

The Texas Enterprise Fund (TEF) 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 and community development, job training programs and business incentives. Before funds can be awarded, the governor, lieutenant governor and speaker must unanimously agree to support the use of the TEF for each specific project.

The TEF is used primarily to attract new business to the state or assist with the substantial expansion of an existing business as part of competitive recruitment. To be eligible for TEF support, a project must demonstrate a significant return on the state’s investment and strong local support.  The review process will consider a variety of factors, including job creation and wages, capital investment, financial strength of the applicant, applicant’s business history, analysis of the relevant business sector, and public and private sector financial support.

Emerging Technology Program (State)

The Emerging Technology Fund (ETF) was created by the Texas Legislature in 2005 provide Texas with an unparalleled advantage in the research, development, and commercialization of emerging technologies. ETF grants are awarded in the following three areas: (1) Research Superiority Acquisition - funds for Texas higher education institutions to recruit the best research talent in the world; (2) Commercialization Awards - funds to help companies take ideas from concept to development to ready for the marketplace; (3) Matching Awards - funds create public-private partnerships which leverage the unique strengths of universities, federal government grant programs and industry.

MM&E Tax Exemptions (State)

Manufacturing Machinery and Equipment Sales and Use Tax Exemption   Leased or purchased machinery, equipment, replacement parts, and accessories that have a useful life of more than six months, and that are used or consumed in the manufacturing, processing, fabricating, or repairing of tangible personal property for ultimate sale, are exempt from state and local sales and use tax.  Texas businesses are exempt from paying state sales and use tax on labor for constructing new facilities.  Machinery exclusively used in processing agricultural products by the original producer is also exempt.

Utility Tax Exemptions (State)

Natural Gas and Electricity Sales and Use Tax Exemption  Companies are exempt from paying state sales and use tax on electricity and natural gas used in manufacturing, processing, or fabricating tangible personal property.  The company must complete a predominate use study showing that at least 50% of the electricity or natural gas consumed by the business directly causes a physical change to a product.

Other

The Greenville Economic Development Corporation will consider other creative options to providing incentives tailored to the specific and unique needs of the business.

Please note:

All potential incentive offerings are contingent upon a thorough Cost/Benefit Analysis, due diligence review of company’s financial standing, and approval by the Greenville EDC Board Members.

State governed incentives are determined by various legislative authorities. The Greenville EDC cannot commit that funds would be available or granted for specific projects.