In Converse, we believe in helping you achieve your objective – maximizing your investment and meeting you where you are. Whether it’s through tax abatements, infrastructure investments, capital investment grants, etc. – if you name it, chances are we can do it.
We provide incentives to compete for your business because we want to eliminate any reason why you would choose to go anywhere else. Bottom line is, we are here to help you succeed.Please click on the Local Incentives Application Icon below to download the application (excel file). Once it is completed, please email to email@example.com and it will be reviewed by our staff and a third party vendor. Our staff will be in contact with you and will be able to pinpoint what incentives package will work best for your business.
- Real Estate and Infrastructure Investments
- Type B Economic Development Sales Tax
- Capital Investment Reimbursement Grants, including Building Fees and Permits
- Inter-local Agreements
- Debt Financing
Tax increment financing is a tool that local governments can use to publicly finance needed improvements to infrastructure and buildings within a designated area known as a reinvestment zone. The cost of improvements to the reinvestment zone is repaid by the future tax revenues of each taxing unit that levies taxes against the property. Each taxing unit can choose to dedicate all, a portion of, or none of the tax revenue gained as a result of improvements within the reinvestment zone. These zones are commonly referred to as either a tax increment financing (TIF) zone or a tax increment reinvestment zone (TIRZ).
This Local Government Code authorizes municipalities to offer incentives designed to promote economic development by offering loans and grants of city funds or services at little or no cost.
The City of Converse will consider providing tax abatements to appropriate businesses in accordance with the procedures and criteria outlined in Ordinance 209. All applications for tax abatement shall be considered on an individual basis.
Section 11.253 provides an exemption for "goods in transit", described as goods acquired inside or outside the state, detained at a facility in which the owner of the goods has no direct or indirect ownership of the facility, detained for storing purposes by the person who acquired or imported the property, and then shipped to another location in or out of this state within 175 days. The goods do not include oil, gas or petroleum products or special inventories such as motor vehicles or boats in a dealer's retail inventory. Taxing units may elect to tax the goods notwithstanding the above.
State and Federal Incentives:
TEXAS ENTERPRISE FUND - THE DEAL CLOSER
The fund is a cash grant used as a 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.
ENTERPRISE ZONE PROGRAM - FOCUSED ON A REGION RIPE FOR GROWTH
This program is an economic development tool for local communities to partner with the State of Texas to promote job creation and significant private investment that will assist economically distressed areas of the state.
SKILLS DEVELOPMENT FUND
The Skills Development Fund is Texas' premier job-training program providing local customized training opportunities for Texas businesses and workers to increase skill levels and wages of the Texas workforce.
SKILLS FOR SMALL BUSINESS
This program supports businesses with fewer than 100 employees, emphasizes training for new workers, and helps upgrade the skills of incumbent workers.
FOREIGN-TRADE ZONE DESIGNATION
Companies can use special procedures that help encourage U.S. activity and value added - in competition with foreign alternatives - by allowing delayed or reduced duty payments on foreign merchandise, as well as other savings.
EB-5 VISA PROGRAM TEXAS GROWTH FUND
Texas Growth Fund provides immigrant investors with real estate investment opportunities that comply with the United States Citizenship and Immigration Service's EB-5 Visa Program.