The Matagorda County Economic Development Corporation (MCEDC) offers assistance in identifying and obtaining incentives for businesses that choose to locate or expand within the county. If you have any questions about any of the incentives below or other options that may be available, please contact the MCEDC office at 979.245.8913.
Tax Abatements
Matagorda County has adopted a tax abatement policy and, upon application from the company, may consider a tax abatement agreement as allowed under the laws of Texas. Specific conditions and requirements for tax abatement can be found here. We advise any company considering applying for tax abatement to contact the Matagorda County Economic Development Office as soon as possible to obtain the Tax Abatement Application. Call 979.245.8913 or email mferdinand@mcedc.net.
Industrial Revenue Bond Program
The Industrial Revenue Bond Program gives Matagorda County the ability to issue tax-exempt IRBs (also known as “private activity bonds”) to businesses considering a move to Texas, or indigenous businesses looking to expand.
Tax-exempt IRBs include small issue bonds and exempt facility bonds. Small issue bonds and certain exempt facility bonds require an allocation under the state’s private activity bond volume cap administered by the Texas Bond Review Board. Small issue bonds are limited to manufacturing facilities. The bond amount cannot exceed $10 million and the total capital expenditure limitation for the project is $20 million. Eligible project costs include the acquisition by a business of an existing facility, acquisition of land, construction of new facilities, machinery tools, equipment, limited costs of issuing the bonds, such as legal fees and administrative costs. Only office space that is directly related to the day-to-day operations of a project may be financed.
Texas Enterprise Fund
Texas Capital Fund
Sales and Use Tax Exemptions
Texas businesses are exempt from paying sales and use tax on many business necessities including:
- Leased or purchased machinery
- Equipment
- Parts and accessories that have a useful life of more than six months and are used or consumed in the manufacturing processing
- Fabrication or repair of tangible personal property for ultimate sale
- Labor for constructing new facilities
- Electricity and natural gas used in manufacturing, processing, or fabricating tangible personal property
- At least 50% of the electricity or natural gas consumed by the business that directly causes a physical change to the product
Texas Enterprise Zone Project
Chapter 380/381 Discretionary Incentives
According to Texas’ Local Government Code Chapters 380 (for cities) and 381 (for counties), counties and cities can make loans and grants available, per their local policies, to companies considering locating or expanding to help stimulate economic development. View the Guidelines for Chapter 381 here.
Employee Training Funds
The Self Sufficiency Fund
Employee Recruitment
Permit Assistance
MCEDC can assist with identifying and resolving bottlenecks that can affect job creation or have a high economic impact.
The following Federal programs are also available:
- 7(a) Guaranteed Loans
- HUBZone Empowerment Contracting Program
- Office of Business Initiatives
- One-Stop Capital Shops Program
- Office of Entrepreneurial Development
- U.S. Small business Administration
- Section 8(a) Program
- Small Business Investment Companies Program
- Office and Small Disadvantaged Business Utilization’s Short-Term Lending Program and Bond Assistance Program
