Chapter 380 & 381 Abatements
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 and grants of city funds, as well as the use of city staff, city facilities, or city services, at minimal or no charge. A 50 percent property tax abatement from the city is possible for up to 5 years.
Contact the City of Gainesville with questions:
940-665-5241
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Category: Local
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Jobs created/retained since 2010 as a result of direct economic agreements with the GEDC: 492 Incentives awarded since 2015: $2,903,828.53To 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...
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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.
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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
aschroyer@cogtx.org
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