380 & 381 Program
Local Government Code authorizes municipalities and counties to promote state or local economic development and to stimulate, encourage and develop business location and commercial activity in the county. Specifically, it provides for offering loans and grants of city/county funds or services at little or no cost to promote state and local economic development and to stimulate business and commercial activity.
The DCDC has the ability to issue grants and loans to qualified businesses on a case by case basis.
Business Improvement Grants
The purpose of this program is to promote the development and expansion of new and existing business enterprises within the City Limits of Dayton, TX and enhance the economic welfare of the citizen of the City by securing and retaining business enterprises and maintaining a higher level of employment, economic activity, and stability. All grants are 50% matching grants; Facade, Sign, Property & Landscaping Grants are up to $10,000 and Mega Grant is the only competitive grant up to $25,000.
A) Facade Improvements
B) Sign Improvements
C) Property Improvements
D) Landscaping Improvements
E) MEGA Grant - Can be a combination of Grant Type A, C or D or can stand alone as either. This grant will be reserved for those business that are within our Downtown.
Tax Code Chapter 313 - Value Limitation & Tax Credits
Texas Economic Development Act
An appraised value limitation is an agreement in which a taxpayer agrees to build or install property and create jobs in exchange for:
- An eight-year limitation on the taxable property value for school district maintenance and operations tax (M&O) purposes.
- A tax credit.
This application is submitted directly to the Dayton Independent School District.
Texas Enterprise Zone
Employers who commit to creating or retaining permanent jobs, make capital investment ranging from $5 million to $250 million, fill at least 25% of their new jobs with individuals who are either economically disadvantaged or residents of an enterprise zone can receive state sales and use tax refunds on items purchased for their project site. A local public action nominating a company an EZ project before a state application can be submitted.
Texas Incentives and Programs Overview
The Texas Economic Development Corporation has provided a summary of incentives and programs available in the state.