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Terrell wants to be a partner in your success. We offer one of the most aggressive incentive programs in the State of Texas. Visit the links below to learn about programs, grants and loans available to companies who invest in our city.
The Terrell Economic Development Corporation (TEDC) was formed in 1990 after the passage of a $.005 sales tax proposition. Terrell was one of the first cities in the State to implement this program and has aggressively sought projects using the dollars generated.
The main criteria used in the allocation of funding are the number of jobs created and total economic impact. A minimum of 15 jobs and $500,000.00 investment is required to qualify for assistance. Each project is judged on its own merit, with types of jobs created and payroll the most important factors. Assistance available from TEDC is in the form of:
The TEDC currently owns the 750-acre Metrocrest Business Park, a fully developed park with 4-lane streets, shovel-ready sites and available Union Pacific rail service, and the Airport Business Park, adjacent to Terrell Municipal Airport.
To apply for assistance from TEDC, request an application from Danny Booth and submit it with all the necessary support documents.
Land Purchase Assistance
Tax Abatement/Triple Freeport
All taxing entities in the City of Terrell have adopted a policy for tax abatement for new/existing business and industry locations in Terrell.
(a) Central Business District
To qualify for central business district abatements, businesses:
(b) Enterprise Zone (Metrocrest Business Park and the Airport Business Park)
To quality for tax abatements in Terrell Enterprise Zones, businesses:
For more information on applying for abatements, contact Danny Booth at 972-563-5703.
Texas Capital Fund
The City of Terrell is qualified to submit applications for an eligible activity to the Texas Department of Commerce. Businesses with a three year track record are desirable, but not mandatory. There are no limitations on the personal net worth of the business owners. Complete applications are selected on a statewide competitive basis with scoring allowed for (1) community distress, (2) benefits to low/moderate income persons, (3) private leverage, (4) number of employees and (5) other.
What are the terms?
If approved, the state awards the city a grant. The grant is then loaned to the project principal(s). The repayment funds to the city are recycled for other economic development or community development activities.
Job Training under the Skills Development Fund
Funding is available based on number of jobs and investment.