State Incentives and Programs
offered by Texas
Texas takes the initiative to invest in its future by offering competitive incentives to companies who are creating jobs and driving innovation in Texas. The incentives in this section are a summary of the most commonly utilized state offerings administered by the Department of Economic Development Finance. Local incentives and tax abatements are not included here. Click here for a review of Local Incentives.
Texas Enterprise Fund
The Texas Enterprise Fund (TEF) is the largest “deal-closing” fund of its kind in the nation. The fund is used as a final incentive tool for projects that offer significant projected job creation and capital investment and where a single Texas site is competing with another viable out-of-state option.
Skills Development Fund
The Skills Development Fund is an innovative program created to assist Texas public community and technical colleges finance customized job training for their local businesses. The Fund was established by the Legislature in 1995 and is administered by the Texas Workforce Commission. Grants are provided to help companies and labor unions form partnerships with local community colleges and technical schools to provide custom job training.
Texas Enterprise Zone Program
The Texas Enterprise Zone Program is an economic development tool for local communities to partner with the State of Texas to promote job creation and significant private investment that will assist economically distressed areas of the state.
The Texas Workforce Commission, in conjunction with the Governor’s Office of Economic Development and Tourism, provides access to a team of highly skilled professional who provide technical assistance, at no charge, to help streamline the development of projects and proposals.
Events Trust Fund
The Events Trust fund program applies local and state gains from sales and use, auto rental, hotel, and alcoholic beverage taxes generated over a specified period of time. Eligible events are not restricted to sports, but the venue must have been selected through a highly competitive selection process.
Governor’s University Research Initiative
The Governor’s University Research Initiative grant program (GURI) has a goal to bring the best and brightest researchers in the world to the State of Texas. This program is a matching grant program to assist eligible institutions of higher education in recruiting distinguished researchers.
Product Development and Small Business Incubator Fund
The Product Development and Small Business Incubator Fund (PDSBI) is a revolving loan program financed through original bond issuances. The primary objective of the program is to aid in the development, production and commercialization of new or improved products and to foster and stimulate small business in the State of Texas.
For further details on these incentives and many more offered by the State of Texas, please visit https://businessintexas.com/ or download Incentives Overview.