Economic Development Incentives & Programs

Find incentives that you qualify for and let us help you with the rest!  Wichita Falls Economic Development can help you sort out the fine details of any of these incentives, put together a package and present it to the city to support business expansion or retention efforts that positively impact the Wichita Falls workforce community.  The city of Wichita Falls and state of Texas together offer incentives that range from tax abatement, tax credits, cash for jobs, property tax exemptions (Ad Valorem), access to funding, bonds and more.  

WICHITA FALLS ECONOMIC DEVELOPMENT INCENTIVES

CASH FOR JOBS
This 4A economic development sales tax is used to promote economic development, and provides cash incentives to job creators in Wichita Falls.
PROPERTY TAX ABATEMENT (REAL AND PERSONAL PROPERTY)
The City of Wichita Falls and Wichita County have agreed to abate their respective portions of increased Ad Valorem tax to existing and primary employers. 
NON-ANNEXATION AGREEMENTS
In return for providing primary employers with municipal services (water, wastewater, solid waste disposal, fire, and police protection), the City of Wichita Falls will enter into a "non-annexation" agreement with the business.
TRIPLE FREEPORT EXEMPTION
This local incentive exempts 100% of the ad valorem taxes (County, City and School.)

STATE INCENTIVES

The state of Texas offers a large variety of economic development incentives including a research & development tax credit, renewable energy incentives, cancer prevention & research bonds, skills development funding and much more.
TEXAS ENTERPRISE FUND

 

The Texas Enterprise Fund (TEF) is the largest "deal-closing" fund of its kind in the nation. The fund is used as a final 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 "Project" DESIGNATION
Under the Texas Enterprise Zone Program, the city of Wichita Falls can adopt a company as a Qualified Business and thereby request that the State of Texas grant that company Enterprise Project status. Once the project has been so designated by the state, the project is eligible for a refund of state sales and use tax.
SKILLS DEVELOPMENT GRANTS
The Chamber and Vernon College partner to assist an existing primary employer or a new employer with the evaluation and packaging of state and federal training programs. The State's Skills Development Fund program has been remarkably successful in Wichita Falls.

QUALIFICATIONS

For entrepreneurs looking to start a business which would create primary jobs in Wichita Falls, or for existing businesses looking to expand or locate in Wichita Falls, our Economic Development team requires these businesses to be primary job creators.  Each fund, bond, tax exemption or agreement available is subject to review by the city and/or the state.  Approval and negotiation of terms and incentives packages are made on a case-by-case basis.  Although we cannot guarantee any of these packages, we will do everything we can to advocate for primary job creators.