Grants & Incentives
Local: Beautification, Facade, Signage Grant
The Beautification,Facade, Signaget Grant (BFSG) is an Seymour Economic Development program that assists commercial businesses and building owners with restoration and continued maintenance of building facades, purchasing of signage, and all around beautification of their properties located along the Business Corridors. The program is open to Seymour building owners and includes up to $1,000 in matching grant funding.
The following list identifies many of the economic development incentives potentially available. In addition to the local incentives, the Seymour Economic Development can assist businesses in gaining the maximum benefit from state, federal, and other government entities incentives programs.
Texas Enterprise Fund
The Texas Enterprise Fund (TEF) is the largest “deal-closing” fund of its kind in the nation. The fund is a cash grant used as a financial 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. Since its inception in 2004, the TEF has awarded over 100 grants totaling more than $500 million across a wide variety of industries and projects. Projects that meet the fund criteria may apply for this incentive in addition to local incentives provided by the city.
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 capital investment in economically distressed areas of the state. Designated projects are eligible to apply for state sales and use tax refunds on qualified expenditures. The level and amount of refund is related to the capital investment and jobs created or retained at the qualified business site.
Manufacturing Exemptions provide state sales and use tax exemptions to taxpayers who manufacture, fabricate or process tangible property for sale. The exemption generally applies to tangible personal property that becomes an ingredient or component of an item manufactured for sale, as well as taxable services performed on a manufactured product to make it more marketable.
A Freeport exemption is a property tax exemption. Freeport property includes goods detained in Texas for 175 days or less before they are transported out of Texas. The exemption applies to goods, wares, ores and merchandise other than oil, gas and petroleum products (defined as liquid and gaseous materials immediately derived from refining petroleum or natural gas) and to aircraft or repair parts used by a certified air carrier. Goods must be in Texas for assembling, storing, manufacturing, repair, maintenance, processing or fabricating purposes. Currently, businesses located in the Abilene Independent School District may utilize this exemption.
Data Center Incentive
Texas is ideally positioned for data center operations. The state is centrally located and has access to talented, experienced high tech workers. A data center exemption applies to state sales and use tax on certain items necessary and essential to the operation of a qualified data center. The exemption is for state sales tax only. Local sales taxes are due on purchases of these qualifying items.
Agriculture: Young Farmer Grant
Pursuant to the Texas Agriculture Code, Section 58.091, the Texas Department of Agriculture (TDA) administers the Young Farmer Grant program (YFGP). The YFGP is administered by TDA under the direction of the Texas Agricultural Finance Authority (TAFA). The purpose of this program is to provide financial assistance in the form of dollar-for-dollar matching grant funds to young agricultural producers that are engaged or will be engaged in creating or expanding an agricultural business in Texas.
TAFA’s Young Farmer Grant Program aims to:
- Grow and support Texas agriculture – so as not to have to ship products from other states, including deficit commodities
- Help meet a financial need that is otherwise not met
- Help grow an operation that also impacts the community
Who can apply?
Grant applications will be accepted from any person who is at least 18 years of age but younger than 46 years of age at the time of grant award and engaged in creating or expanding agriculture in Texas. The applicant must be able to make dollar-for-dollar matching expenditures to sustain, create or expand the project.
- Grant awards range from $5,000 to $10,000
- Grant program offered twice per year
- Grant funds may not be used toward capital purchases that exceed $5,000
- Applicant must be able to make dollar-for-dollar matching expenditures
- Grant funds will be award on a cost reimbursement basis
- Costs must be within the term of the grant award
Other Texas Department of Agriculture Programs links
Click icon above for more information about these and other programs.
WORKFORCE DEVELOPMENT INCENTIVES
Skills Development Fund
The Skills Development Fund is Texas’ premier job-training program providing local customized training opportunities for Texas businesses and workers to increase skill levels and wages of the Texas workforce. The Texas Workforce Commission administers funding for the program. Success is achieved through collaboration among businesses, public community and technical colleges, Workforce Development Boards and economic development partners.
Self Sufficiency Fund
The Self Sufficiency program provides grants to community and technical colleges and community-based organizations to implement customized job training programs in cooperation with employers, to help low-income individuals and those receiving public assistance achieve self-sufficiency and independence.