Who Can Apply?
Companies planning new projects with substantial job creation and capital investment. The project must have a Texas site competing against at least one out-of-state option.
Type of Incentive: TEF offers “deal-closing” cash grants based on the number of new jobs, average wages, and capital investment.
Eligibility:
The Texas site must be in active competition with an out-of-state location.
Projected job creation must be over 75 jobs (urban) or 25 jobs (rural).
Average wages must meet or exceed the county average.
Significant capital investment is required.
Local support from city, county, or school district is necessary.
The company must be financially sound and operate in an advanced industry.
Conditions:
Approved companies must sign a grant contract and meet job and wage targets annually. If targets are not met, the state can demand repayment. The company must also participate in a press release with the Governor’s Office.
Application Process:
Applications are accepted on a rolling basis and undergo an 11-step review. Approval requires unanimous support from the Governor, Lieutenant Governor, and Speaker of the House.