Key Texas Incentive Programs
Texas Enterprise Fund
As the nation's largest "deal-closing" fund, the Texas Enterprise Fund provides performance-based financial incentives for projects generating significant job creation and capital investment, particularly when Texas locations compete with out-of-state alternatives.
Skills Development Fund
This innovative program finances customized job training through Texas public community and technical colleges, allowing businesses to develop workforce skills specific to their operational needs. Grants are accessible through regional workforce solutions partnerships.
Opportunity Zones
Established by the 2017 Tax Cuts and Jobs Act, Opportunity Zones encourage economic revitalization in underserved communities by offering tax incentives for investors who reinvest unrealized capital gains into these designated areas.
Texas Enterprise Zone
This collaborative program between the State of Texas and local communities promotes job creation and capital investment in economically distressed areas. Qualifying businesses may receive reimbursement of state sales and use taxes.
Manufacturing Incentives
Texas offers strategic tax advantages for manufacturers, including sales tax exemptions on equipment, machinery, and specific manufacturing-related services.
Business Relocation Benefits
Companies relocating operations to Texas can access specialized incentive packages tailored to their capital investment, job creation plans, and industry sector.
Key Texas Incentive Programs
Texas Enterprise Fund
As the nation's largest "deal-closing" fund, the Texas Enterprise Fund provides performance-based financial incentives for projects generating significant job creation and capital investment, particularly when Texas locations compete with out-of-state alternatives.
Skills Development Fund
This innovative program finances customized job training through Texas public community and technical colleges, allowing businesses to develop workforce skills specific to their operational needs. Grants are accessible through regional workforce solutions partnerships.
Opportunity Zones
Established by the 2017 Tax Cuts and Jobs Act, Opportunity Zones encourage economic revitalization in underserved communities by offering tax incentives for investors who reinvest unrealized capital gains into these designated areas.
Texas Enterprise Zone
This collaborative program between the State of Texas and local communities promotes job creation and capital investment in economically distressed areas. Qualifying businesses may receive reimbursement of state sales and use taxes.
Manufacturing Incentives
Texas offers strategic tax advantages for manufacturers, including sales tax exemptions on equipment, machinery, and specific manufacturing-related services.
Business Relocation Benefits
Companies relocating operations to Texas can access specialized incentive packages tailored to their capital investment, job creation plans, and industry sector.
Qualifying for Texas Incentives
Each program maintains specific eligibility requirements typically evaluating:
- Employment creation targets
- Investment commitments
- Compensation standards
- Industry alignment with state priorities
- Geographic considerations
- Competition factors
Application Support
The Magnolia Economic Development Corporation provides comprehensive assistance with state incentive programs:
Program Evalauation
Identifying optimal incentive opportunities
Application Preparation
Developing compelling submission materials
Submission Management
Coordinating with relevant state agencies
Advocacy Support
Representing your interests throughout the process
Compliance Guidance
nsuring adherence to program requirements
Application Support
The Magnolia Economic Development Corporation provides comprehensive assistance with state incentive programs:
Program Evalauation
Identifying optimal incentive opportunities
Application Preparation
Developing compelling submission materials
Submission Management
Coordinating with relevant state agencies
Advocacy Support
Representing your interests throughout the process
Compliance Guidance
nsuring adherence to program requirements
Program Resources
- Texas Enterprise Fund Overview
- Skills Development Application Guide
- Opportunity Zone Mapping Tool
- Enterprise Zone Program Details
- Manufacturing Exemption Certificate
Connect Our Team
To explore how your business can leverage Texas state incentives, contact:
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.