Texas Jobs, Energy, Technology and Innovation (JETI)
The JETI Act is a new competitive economic incentive program used to attract large, capital-intensive economic development projects, bringing new capital investment and creating new, high-paying jobs in Texas communities.
Who Can Apply?
Companies planning a new project within the following categories are eligible to apply for the program: manufacturing facilities; dispatchable electric generation facilities; natural resource development facilities; research, development or manufacturing facilities for high-tech infrastructure equipment or technology; and the construction or expansion of critical infrastructure. Renewable energy projects or energy storage facilities are not eligible.
Type of Incentive
The JETI Act allows a company, school district and Governor’s Office to enter into an agreement for a 10-year school district maintenance and operations (M&O) tax appraised value limitation of 50%, based on qualifying job and capital investment minimums. Projects located in qualified Opportunity Zones are eligible for an additional 25% limitation on taxable value.
Category: State