Frequently Asked Questions

Economic development corporations are available to provide assistance to both new and established businesses in a particular geographical area. These corporations offer a variety of services, including grants, loans, and expert information. Their main objective is to attract new businesses to communities with deteriorating economies or provide support to existing businesses to help them thrive in such communities. To encourage businesses to set up shop in depressed areas, economic development corporations offer low-interest loans, facilities, equipment, clerical and technical services, and even reduced or free services. These corporations can be sponsored by local and state governments, universities, or existing tax-exempt organizations.

The members of the board of directors for corporations are not paid a salary. They are volunteers who are motivated by their desire to contribute to their community's sustainable economic growth. Nevertheless, they are eligible for reimbursement of any genuine expenses they may have incurred.

As found on comptroller.texas.gov, the West Tawakoni Economic Development Corporation can fund the following type of projects with the use of sales tax revenue. This list is not an exhaustive list and other projects may be allowed under other parts of local laws and regulations. 

The Type B sales tax may be used for any project eligible under Type A rules and several other project types, including quality of life improvements. Type B corporations may pay for land, buildings, equipment, facilities, targeted infrastructure and improvements for:

• professional and amateur sports and athletic facilities, tourism and entertainment facilities, convention facilities and public parks;
• related store, restaurant, concession, parking and transportation facilities;
• related street, water and sewer facilities; and
• affordable housing.

To promote and develop new and expanded business enterprises that create or retain primary jobs, a Type B EDC may fund:

• public safety facilities;
• recycling facilities;
• streets, roads, drainage and related improvements;
• demolition of existing structures;
• general municipally owned improvements; and
• maintenance and operating costs associated with projects.

Type B EDCs also may seek voter approval to spend Type B sales tax funds for a water supply, water conservation program or cleanup of contaminated property.

Type B EDCs created by cities with a population of 20,000 or less and those classified as landlocked communities may use sales tax proceeds to fund projects that promote new or expanded business development that do not create or retain primary jobs. A landlocked community must be located in either Harris or Dallas counties and have less than 100 acres within its city limits and extraterritorial jurisdiction zoned for manufacturing or industrial facilities.

To begin the application process for an incentive, please visit our contact us page and provide us with your details. Additionally, kindly describe your business type and how we can assist you. We will reach out to you using the contact information you have provided. Once we have reviewed your information, we can arrange a face-to-face meeting to discuss any offers that we may have available for you.To begin the application process for an incentive, please visit our contact us page and provide us with your details. Additionally, kindly describe your business type and how we can assist you. We will reach out to you using the contact information you have provided. Once we have reviewed your information, we can arrange a face-to-face meeting to discuss any offers that we may have available for you.

Since every business is distinct, their requirements also differ from one another. To get started, kindly reach out to us so that we can have a detailed conversation about the available opportunities. Please note that not every business is eligible for grants or other forms of incentives. Since every business is distinct, their requirements also differ from one another. To get started, kindly reach out to us so we can have a detailed conversation about the available opportunities. Please note that not every business is eligible for grants or other forms of incentives.