Temple is a pro-business community seeking to grow it's economic base. Incentives are provided. Cash, land, and/or tax incentives are available for projects that qualify.
Tax Abatement
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- The City of Temple will consider tax abatements for those projects that contribute to the retention or expansion of primary employers or to attract major investment where it can be shown that it would be a benefit to the property and contribute to the City.
- Eligible facilities within the city's tax reinvestment zone include manufacturing, distribution and storage facilities, office buildings, tranpsortation facilities, and entertainment complexes.
- Duration and percent of the abatement is based on a matrix depending on number of jobs and level of investment.
- If it is determined to be in the best interest of all parties, TEDC will assist with abatement applications with other taxing entities such as Bell County and Temple College. In Texas, in most circumstances, it is not legal for a school district to abate taxes.
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Other Incentives
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- Low cost (or free) industrial sites (land)
- Waiver of city permit fees
- Cash Grants
- Build to suit - lease back
- Lease Payment assistance
- No capital recovery fees
- Assistance with infrastructure (In the Tax Increment Financing Zone)
- Enterprise Zone
- Workforce development grants (Skills Development Fund)
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Community Based Incentives
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These could include:
- relocation assistance for key personnel
- special banking and mortgage assistance
- job fairs to attract employees
- residential real estate assistance
- community orientation, introductions and tours
- spouse employment assistance
- community welcome and announcement/press conference coordination
- identification of business support services
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| Please note that all incentives are not offered for every project. TEDC and the City of Temple will work with each applicant to determine the specific needs of the applicant and will tailor an incentive package to that company's particular needs. Incentives typically will require approval from one or more boards or commissions. |
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