State Incentives

Texas Capital Fund Grant

If new utility infrastructure is necessary for your project, the Waller EDC could apply for a grant with the City as applicant and your business as co-applicant. The amount granted is computed at a maximum of $25,000 per job created up to a maximum of 50% of the infrastructure project cost. This grant is coordinated through the Texas Department of Agriculture.

Industrial Revenue Bonds

WEDC can apply to the Governor’s economic development office to issue tax-exempt bonds for financing of land, building, and equipment for manufacturers. The bonds are repaid by the company, benefiting from the lower interest rates due to the tax-exempt status.

Strategic Investment Area

Waller County is designated by the state Comptroller as a “limited purpose SIA”. This authorizes manufacturers related to agricultural/food processing located in the county to apply for various credits when filing the franchise tax with the Comptroller.

	Investment Tax Credit:
		7.5% of investment in machinery and equipment
	Job Creation Credit:
		5% of wages paid to workers in new qualifying jobs. To qualify, a company must create at least 10 new fulltime jobs, pay health benefits, and pay >110% of the county average weekly wage rate.
		Each credit is limited to 50% of the company’s franchise tax liability, but can be carried forward for a maximum of five years.

Skills Development Fund

Blinn College (in Waller Co.) or North Harris Montgomery College (in Harris Co.) can address training needs through customized programs that may be paid by the SDF grant program.

Enterprise Zone

Designation by the City of Waller or Waller County can be negotiated, and can result in significant franchise tax credits and sales tax rebates based on the number of qualifying jobs created.