Chapter 380 Grants: The Texas Chapter 380 Local Government Code authorizes municipalities to offer grants of City funds to stimulate business activity based on jobs created, capital investment and other approved performance metrics listed in the City’s Chapter 380 policy.
Chapter 380 of the Local Government Code authorizes municipalities to offer incentives designed to promote economic development such as commercial and retail projects. Specifically, it provides for offering loans and grants of city funds or services at little or no cost to promote state and local economic development and to stimulate business and commercial activity.
Pre-Requisites for application:
Company must establish place of business within the City
Minimum annual sales tax revenue: $100k
Maximum amount of City sales tax revenue paid: 70%
Duration: Initial term not to exceed 10 years
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