Areas Served: Statewide Texas
The Texas Enterprise Fund 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 development, 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 Texas Enterprise Fund for each specific project.
These funds will be used primarily to attract new business to Texas or assist with the substantial expansion of an existing business as part of a competitive recruitment situation.
State leadership also will be able to use Enterprise funds to leverage other resources for an economic development project.
The Governor’s Office will work closely with local leaders to tailor incentive packages that best meet the needs of local communities and businesses.
Recruiting new business and helping to expand existing business is a dynamic process.
General guidelines have been implemented to ensure that core objectives of the Texas Enterprise Fund are achieved, but flexibility is an integral part of allocating Texas Enterprise Fund assets.
ELIGIBILITY To be eligible for Texas Enterprise Fund 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 associated with each project, including job creation and wages, capital investment, the financial strength of the applicant, the applicant’s business history, analysis of the relevant business sector, and public and private sector financial support.
Contact InformationOffice of the Governor
Address: PO Box 12428
City: Austin
State: Texas
Website:
http://governor.state.tx.us/ecodev/financial_resources/texas_enterprise_fund/
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