Retail
Sales
Tax
Sales tax rebates may be available to qualified retailers. The
rebate escalates based on a retailer's sales and location.
Ad
Valorem Tax Rebates
City property tax rebates may be available to qualified
retailers. Depending on a development's size and location, these rebates can
range from 5 to 10 years.
Infrastructure
Support
Funds may be available for the installation or improvement of
water, sewer, gas, and electric lines.
Skills
Development Fund
This state fund provides grants to community and technical
colleges to finance customized job training for local businesses. Average
training cost in $1,000 per trainee.
Revolving
Loan Program
The Denison Community Investment Corporation has funds available
that can be loaned to businesses for the acquisition of property or equipment.
Rates can be as low as three and a half percent below national prime and terms
can be up to ten years.
Industry
Cash
Grants
Incentive packages are based on the number, quality of jobs created
and/or capital investment. Incentives usually take the form of cash grants to
the company spread over a two to five year period, depending on the total amount
of the grant. In the past, grants have ranged from $500 to $5,000 per job, depending
on the type of job. A company which qualifies for a cash grant package employing
200 people at $5,000 per job would receive a total of $1 million in incentives
payable over an agreed upon term.
Ad
Valorem
Tax Abatements
The city, county and college districts have a strong track record
of tax abatement participation on new building and equipment. Local Governments
can enter into agreements with businesses to abate local Ad Valorem taxes on
real and personal property for up to ten years.
Freeport Exemption
All taxing entities, the City of Denison, Grayson County, Grayson County College and the Denison Independent School District offer a freeport inventory tax exemption which exempts certain personal property from property taxes. Freeport goods are defined as, "goods, wares, merchandise, other tangible property...are exempt from ad valorem taxation if: (1) the property is acquired in or imported into this State to be forwarded outside this State...(2) the property is detained in this State for assembling, storing, manufacturing, processing, or fabrication purposes...and (3) the property is transported outside this State not later than 175 days after the date the person acquired or imported the property in this State."
Foreign
Trade Zone
Denison is served by Foreign Trade Zone #39. The zone is comprised
of 18 acres located at the Grayson County Airport, four miles west of Denison.
Businesses engaged in international trade within this zone benefit from special
customs procedures when exporting and warehousing, manufacturing or assembling
goods within the designated areas.
Industrial
Revenue Bonds
Denison can issue tax-exempt bonds to finance land and depreciable property
for manufacturing facilities. The maximum bond amount is ten million for tax-exempt
issues.
Revolving
Loan Program
The Denison Community Investment Corporation has one million
dollars available that can be loaned to businesses for the acquisition of property
or equipment. Rates can be as low as three and a half percent below national
prime and terms can be up to ten years.
Skills
Development Fund
This state fund provides grants to community and technical colleges
to finance customized job training for local businesses.
Industrial
Property
The Denison Development Alliance owns and manages two
industrial parks. Sites in the park are available for free or below market rates
for qualified businesses. The land is valued at $10,000 per acre.
Infrastructure
Improvements
Funds are available for the installation or improvement of water
and sewer lines and access roads.
Relocation\Moving
Expenses
Denison may pay for a portion of moving costs incurred when a
business relocates or expands to Denison. Funds are also available to established
industries that move new equipment to their Denison location.
Denison Development Alliance
311 West Woodard Street
Denison, TX 75020
(903) 464-0883 * (888) 244-1908 phone
(903) 465-6476 fax
ssmathers@denisontx.org e-mail