Business Climate

The city of Temple, Texas is situated in one of the booming economic corridors in the nation. Temple has proved to have a steady growth rate with an increasing rate of racial diversity. The population of Temple has increased from 54,514 in 2000 to 72,333 in 2012 which is a 32.7% percent increase, according to EMSI. Temple’s strategic location, within 180 miles of 17.8 million people, has continued to benefit the city’s development and growth in the last year. The median age is 34.6. The male population of Temple totals 47.8% of the total population. The female population of Temple totals 52.2% of the total population.

Companies need exceptional talent to compete and survive in a global economy. As part of the Temple-Killeen-Fort Hood MSA and the Central Texas Region, Temple attracts commuters from a five county region, with a total population of 1,128,900, which supplies a total job count of 454,100, according to Economic Modeling Specialists Int. The Temple Economic Development Corporation (TEDC) supports Temple employers by supplying the resources necessary to help employees grow and retain the fundamental knowledge needed in business. Whatever the training need is, TEDC can bring a suitable business training partner to the situation and help create solutions.

TEDC Workforce Development and Training Partners:

Workforce Solutions of Central Texas
Workforce Solutions of Central Texas provides a broad array of employment-related services to local businesses. Workforce Solutions of Central Texas is a division of the Texas Workforce Commission which is the state agency charged with overseeing and providing workforce development services to employers and job seekers of Texas. The Texas Workforce Commission strengthens the Texas economy by providing the workforce development component of the Governor's economic development strategy.

Temple College
The Temple College Business and Community Education (TC-BCE) provides customized training and continuing education for businesses and industries for completion at the college or on-site. TC-BCE partners with area businesses to identify specific employee or team development needs and create a targeted plan.

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Local Real Property Tax Rate - $100 assessed value:
Ad Valorem property taxes are based on the value of real property and tangible personal property. Real property includes land, building, structures and all improvements or fixtures annexed to the building or structure. Tangible personal property that is used for the production of income includes business inventories, machinery, equipment and furnishings.

The city of Temple is in Bell County and either the Temple, Belton, Troy or Academy Independent School Districts. Depending upon the location of a specific piece of property, the levying jurisdictions will vary. All rates are per $100 of assessed value. To determine the tax, divide the assessed value of the property by 100 and multiply by the rate.

City:
City of Temple = $0.5864

Primary Schools :
Temple Independent School District = $1.2800
Belton Independent School District = $1.5210
Troy Independent School District = $1.3317
Academy Independent School District = $1.1628

County:
Bell County = $0.4212

Special Districts:
County Road District = $0.0299
Clearwater Underground Water District= $0.0040
Temple College = $0.2036

Sales Tax Rate:
The State of Texas sales tax rate is 6.25%. Texas cities, counties, transit authorities and special purpose districts have the option of imposing an additional local sales tax for a combined total of state and local taxes of 8.25%. The Sales and Use Tax is imposed on all retail sales, including rentals and leases of most goods. The local sales tax rate in the City of Temple is 1.5% and Bell County is .5% for a total sales tax rate of 8.25%.

Effective State Corporate Income Tax Rate (per $1 MM income):
The State of Texas levies a margin tax on each taxable entity organized in Texas or doing business in Texas. Margin equals the lowest of three figures:

• Total revenue less cost of goods sold
• Total revenue less compensation
• Or 70% of total revenue

The tax does not apply to sole proprietorships, general partnerships with individual owners, nonprofits or entities with $300,000 or less in gross receipts.

Rate =

1.0% of margin for most taxable businesses
0.5% for qualifying retailers and wholesalers
0.575% for qualifying entities with $10 million or less in total revenue annualized per 12 month period.

Unemployment Insurance (UI) tax:
Unemployment Insurance (UI) tax is a tax that employers pay to fund unemployment compensation for workers who lose their jobs. The Texas Unemployment Compensation Act (TUCA) requires Texas employers, including sole proprietorships, partnerships and corporations, to pay UI tax. Employers must register with the Texas Workforce Commission and report employees’ names, social security numbers, and total gross wages quarterly. UI tax is paid quarterly.

The first $9,000 a year employers pay each employee is taxable. Employers' tax rate and the taxable wages they pay determine the amount they owe. New employers pay at a rate of 2.70%. Employers receive an experience rate after six calendar quarters. Their experience rate will vary depending on taxable wages reported and individual claims charged against their account.

Sales Tax Exemptions on Manufacturing Property:
Manufacturers may claim a Texas sales tax exemption for tangible personal property directly used or consumed in or during the actual manufacturing, processing, or fabrication of tangible personal property.

City of Temple

The City of Temple is governed by elected representatives, the Mayor and four City Councilmembers. The elected officials formulate public policy to address community needs and assure orderly development as well as appoint the City Manger, City Attorney, Director of Finance, City Secretary, Municipal Court Judge and various citizen boards and commissions.

Mayor- Danny Dunn
Councilmember Precinct 1- Tim Davis
Councilmember Precinct 2- Mayor Pro Tem- Judy Morales
Councilmember Precinct 3- Perry Cloud
Councilmember Precinct 4- Russell Schneider

Bell County

Bell County is governed by a county judge and four county commissioners elected by the qualified voters of individual commissioners' precincts. The Commissioners Court serves as both the legislative and executive branches of county government and has budgetary authority over all county departments, including those headed by other elected officials.

Members of Bell County Commissioners Court:
County Judge- Jon H. Burrows
Precinct 1- Richard Cortese
Precinct 2- Tim Brown
Precinct 3- Bill Schumann
Precinct 4- Jon Fisher

A diverse group of distribution, warehouse, logistics, healthcare services, education, military facilities and software development companies make up Temple’s list of major employers. The skilled workforce found in Temple is a reflection of the exceptional companies located in our community.

Major Employers:

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