GEDC Incentives: Robust and Flexible

  • Jobs created/retained since 2010 as a result of direct economic agreements with the GEDC: 492 
  • Incentives awarded since 2015: $2,903,828.53

To create new jobs and bring new cash flow into our local economy, the Gainesville Economic Development Corporation, as a Texas Type B EDC, invests in the retention and expansion of existing businesses and recruitment of new businesses. 

In addition to affordable land, interstate access, rail access, and a pro-business environment, the GEDC provides incentives through qualifying expectations and guidelines. However, the GEDC Board of Directors has the flexibility to consider projects on a case-by-case basis. Customized incentives include deal closers, grants, tax abatements, and sales tax rebates. Options include:

  • Cash incentives
  • New Job Creation Grant (most popular)
  • Chapter 380 and 381 abatements
  • Sales tax rebates
  • New Market Tax Credit Program
  • Two Opportunity Zones
  • Triple Freeport Tax exemptions 

Minimum Qualifications for GEDC and City Incentives

  • Minimum growth requirements for existing manufacturing is 10 retained and 5 new jobs AND $250,000 unabated investment in building, machinery/equipment, and/or personal property.
  • Minimum requirements for new manufacturing and office business is 20 new jobs and $500,000 unabated investment in building, machinery/equipment, and/or personal property.
  • Minimum requirements for retail and Texas Type B qualifying business projects is $300,000 in unabated construction costs.

Contact the Gainesville Economic Development Corporation with any questions and to see how we can customize incentives to meet your exact needs:

Contact Us Here

Category: Local

Through Chapters 380 and 381 of the Local Government Code, the County is allowed to negotiate directly with developers and businesses and Gainesville is authorized to offer a range of incentives designed to promote local economic development. Specifically, it allows for the provision of loans...
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Gainesville has two Opportunity Zones; the Gateway Industrial Park is located within one of them. Opportunity Zones were created in 2017 when the new Tax Cuts and Job Act was implemented. They are designed to spur economic development in less-developed and under-invested communities by providing...
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The Gainesville Economic Development Corporation considers incentives for employers to provide jobs that earn a living wage in Gainesville, Cooke County, Texas. Details Living wage is defined by the GEDC as $18.50 per hour on a full-time basis (2080 hours annually) or...
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New Market Tax Credits are available in Gainesville. Gateway Industrial Park and Historic Downtown Gainesville are located within the NMTC zone. This designation is re-evaluated every 5 years so now is the time to bring your project to Gainesville.  NMTC is a federal tax...
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Triple Freeport Tax Exemptions consist of exemption of ad valorem taxes for products detained for 175 days or less.  Contact the Gainesville Economic Development Corporation with questions: 940-665-5241
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