Available Local Incentives
MEDC offers a variety of customized incentive packages that may include:
Small Business Grants
The MEDC offers competitive grant programs designed to support small business growth, facade improvements, and business retention within Magnolia.
Infrastructure Assistance
MEDC can provide support for necessary infrastructure improvements including water, sewer, road access, and other critical components needed for business success.
coordinated Permitting
Qualifying businesses may be eligible for temporary reduction in property taxes on new improvements or expansions based on capital investment and job creation metrics.
Qualification Criteria
Incentive eligibility is typically based on factors including:
- Capital investment amount
- Number and quality of jobs created
- Wage levels and benefits provided
- Industry sector alignment with Magnolia's target industries
- Community impact and benefits
- Business viability and financial stability
Note: Each incentive application is evaluated on a case-by-case basis, with final approval determined by the MEDC Board of Directors and/or Magnolia City Council as required by applicable regulations.
Application Process
Initial
Consultation
Contact MEDC to discuss your project and potential incentive opportunities
Application Submission
Complete and submit the formal incentive application with required documentation
Staff Review
MEDC staff evaluates application against established criteria
Board
Consideration
Qualified applications are presented to the MEDC Board
Performance Agreement
Approved incentives require execution of a performance agreement outlining requirements and clawback provisions
Required Documentation
Incentive applications typically require:
- Detailed business plan
- Financial statements/projections
- Project timeline and milestones
- Job creation/retention details
- Capital investment documentation
- Corporate information and references
Application & Resources
- Download Incentive Application Form
- MEDC Incentive Policy Guide
- Performance Agreement Template
- Frequently Asked Questions
Contact Our Business Development Team Today
Take the first step toward your business success in Magnolia by contacting our economic development team:
Rachel Steele
Economic Development Director
Phone: (936) 548-9249
Address: City of Magnolia, 18111 Buddy Riley Blvd., Magnolia, TX 77354
The Magnolia Economic Development Corporation remains committed to ensuring Magnolia fully focuses on the future and maintains an "Open for Business" community approach.