Taxes & Incentives
At the Jacksboro Economic Development Corporation (JEDC), our primary focus is fostering business success, continuity and sustainability. We offer grants and incentives strategically aligned with the local economic impact, capital investment, job creation, and community needs. These incentives are formalized through tailored performance agreements, ensuring mutually beneficial outcomes for both the business and the community. Our approach is designed to support sustainable growth while addressing specific goals of the projects we partner on.
The Jacksboro EDC (JEDC) is the lead agency for coordinating economic assistance and incentive agreements for the business community seeking to expand or relocate operations to Jacksboro.
Incentives are available based on a project’s local economic impact.
The JEDC has a proven record of providing incentives to facilitate the location or expansion of businesses in the City.
Jacksboro Incentive options include:
Ad-Valorem Tax Abatement
Provide up to 10-year tax abatements on real and business personal property at a structured tiered rate.
Sales Tax Grants
Grant back to the business a portion of the sales taxes generated at the company.
Infrastructure Participation
Participate in the necessary cost of public infrastructure.
Fast-Track Permitting Process
Commitment to an expedited process for all permitting processes in the City. Support a hassle-free environment with expert plan reviews and responsive comments to prospective developers and businesses.
Workforce Assistance
Partner with the business and other allies to provide workforce recruiting, development, and training, potentially assisted by the state's Skills Development Fund.
380 Agreement
Chapter 380 of the Texas Local Government Code allows Texas municipalities to provide a grant or a loan of city funds or services to promote economic development.
State Incentives Assistance
Provide guidance and support in negotiating and completing state-level incentive agreements.
State of Texas Incentives & Programs:
Product Development & Small Business Incubator Program
The Program offers long-term asset-backed loans to near-bankable businesses commercializing new or improved products, small businesses and non-profits, small business incubators and accelerators, and other entities which are unable to obtain full financing in traditional capital markets or to whom credit has been offered on terms that would preclude the success of the project(s) being undertaken. Program goals are twofold: (1) aiding in the development and production, including the commercialization, of new or improved products in the State of Texas, and (2) fostering and stimulating the development of new or existing small businesses in the State of Texas. Preference is given to products or businesses in the areas of semiconductors, nanotechnology, biotechnology, biomedicine, and other emerging technologies.
Texas Small Business Credit Initiative
The Texas Small Business Credit Initiative (TSBCI) seeks to foster small business development and job creation by enhancing access to capital. This program focuses on providing resources for small businesses, with a particular emphasis on helping traditionally underserved businesses and those affected by the COVID-19 pandemic. Small businesses obtain funding through loans from financial institutions, and TSBCI works with financial institutions to support this process.
Texas Enterprise Fund
The fund is used as a performance-based 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.
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. Average training cost is $2,000 per trainee; however, the benefit may vary depending on the proposal.
Economic Development & Diversification In-State Tuition for Employees
Economic Development & Diversification In-State Tuition for Employees is a program that allows employees—and those employees’ family members—of a qualified business considering a relocation or expansion of its operations in the State of Texas to pay in-state tuition rates at public institutions of higher education in the state without first establishing residency. More information can be found at the Texas Economic Development & Tourism Office https://gov.texas.gov/business/page/incentives
Property Enhancement Incentive Program Grant
The JEDC Property Enhancement Incentive Program is designed to support Jacksboro businesses in enhancing their commercial properties, fostering economic growth, and improving the community’s aesthetics. Property improvements not only boost business activity but also increase property values and promote long-term sustainability. The JEDC Board of Directors is proud to offer this program and encourages local businesses to apply.
Program Goals:
- Strengthen the viability and sustainability of commercial properties within the city.
- Improve the visual appeal of businesses and commercial corridors.
- Enhance the marketability and occupancy of commercial spaces.
- Focus on areas and businesses with the greatest potential to stimulate private investment.
This program aims to help existing businesses thrive by attracting more customers to their upgraded facilities. With a wide range of eligible enhancements, finding a solution that fits your business is simple.
Contact the JEDC today to learn more about how this program can benefit your business and to pick up an application for a matching grant.