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Incentives & Financing
Local Incentives
Tax Phase-In
Tax Phase-In is the partial, temporary exemption from ad valorem taxes on certain qualifying property in a Reinvestment Zone designated by the City and/or County for economic development purposes. Only ad valorem (property) taxes are eligible for the phase-in incentive. Brenham Independent School District and Blinn College taxes are required to be paid in full at all times. For more information about the tax phase-in incentive, please click here.
Industrial Development Revenue Bonds
The Washington County Industrial Development Corporation is authorized under state law to issue revenue bonds for the public purpose of the promotion and development of new and expanded commercial, industrial, manufacturing and medical research enterprises so as to promote and encourage employment, public health and the public welfare.
Health Facilities Development Revenue Bonds
The Washington County Health Facilities Development Corporation is authorized under state law to issue revenue bonds for the public purpose of providing, expanding and improving health facilities to be needed for the purpose of improving the adequacy, cost and accessibility of health care, research and education.
Housing Finance Revenue Bonds
The Washington County Housing Finance Corporation is authorized under state law to issue revenue bonds for the public purpose of the promotion and development of new and expanded multi-family rental residential development so as to promote and encourage the development of adequate, sound, safe and sanitary residential development to be occupied substantially (at least 90 percent) by persons of low and moderate income, and to promote the welfare of the citizens of the County.
All three Corporations act as a conduit through which all of the monies are channeled, and because the bonds are issued on behalf of a governmental entity, the interest on the bonds is tax exempt to the bond purchaser. In turn, the bonds may carry a lower rate of interest than conventional financing, making them more attractive to a user.
State Incentives
Texas Enterprise Fund
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. For more information on the Texas Enterprise Fund, please click here.
Texas Enterprise Zone Program
The Texas Enterprise Zone Program is an economic development sales tax incentive partnering the state and local government to help local employment and support business investment. The program is performance based and allows qualified businesses to receive a refund of state sales and use taxes, ranging from $2,500-$7,500 per job created and/or retained during a five-year designation period, up to a maximum of $1.25-$3.75 million. For more information on the Texas Enterprise Zone Program, please click here.
Texas Skills Development Fund
The Texas Skills Development Fund is Texas’ premier job-training program providing training dollars for Texas businesses and workers. A business, consortium of businesses, or a trade union identifies a training need, and then partners with a public Community or Technical college to fill its specific needs. The Skills Development Fund pays for the training, the college administers the grant, and businesses create new jobs and improve the skills of their current workers. For more information about the Texas Skills Development Fund, please click here.