The Rio South Texas region will work with you to find the optimal location for your global business.
- Texas Enterprise Fund: The Texas Enterprise Fund is a State tool that promotes job creation and capital investment in certain regions by providing refunds to qualifying businesses ranging from $2,500 – $7,500 per job allocation.
- Emerging Technology Fund: The State of Texas has created the Emerging Technology Fund to promote partnerships between higher education institutions in Texas and private companies for the development of new technology. The Fund helps companies implement new technologies into their operations and provides for the research of new tools and strategies.
- Loan Assistance: The Texas Product/Business Fund provides low interest rate loans to companies doing business in the State of Texas.
- Tax Abatements: Counties provide tax abatements to companies with approved projects. Tax abatement agreements are made with the owners of real property to exempt from taxation a portion of the value of the real property or of tangible personal property, or both. The duration of an agreement may be for a period of up to ten years.
- Tax Increment Reinvestment Zones: The state of Texas grants the governing bodies of municipalities and counties the authority to designate a contiguous geographic area to be a reinvestment zone for the promotion of development or redevelopment in a region. Once an area has been designated as a tax increment reinvestment zone, the taxes generated from the added value resulting from the development in an area are set aside in a fund to finance public improvements in the zone.
- Freeport Exemption: Goods, wares, merchandise, and other tangible personal property may be exempt from ad valorem taxation if 1) the property is held in Texas to be forwarded out of the state, 2) the property is detained for assembling, storing, manufacturing, processing, or fabricating purposes, and 3) the property is transported outside of Texas no later than 175 days after it is imported into the State.
- Cities Incentives: Many of our cities provide either grants or property tax reimbursements to companies for the promotion of economic development in our region.